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Crude Oil In the first half of last fortnight, selling offers for Crude oil declined on account of rise in gasoline inventories in the US and weak economic data emerged out from China. In the second half of last fortnight, selling offers for Crude oil prices declined as US greenback bounced back in international currency market. An increase in the value of the US greenback prompts investors to offload their stakes in dollar-denominated commodities like crude, sending prices lower. Naphtha In the last fortnight, Naphtha selling offers increased. In the early first half of last fortnight, Naphtha prices surged due to firm demand from F E Asian region and moderate supply. In the European market, selling offers for Naphtha declined during the period. In the second half of last fortnight, Naphtha prices were stable-to-firm as Asia faces ample supply from northwest Europe and the U.S.A. Purified Terephthalic Acid In the early stage of last fortnight, selling offers for PTA went up marginally in Asian markets due to firm feedstock values. Buyers and sellers both maintained their firm stance of wait and watch. In the last fortnight, selling offers for PTA remained unchanged. During the second half of last fortnight, selling offers for PTA were steady in Asian markets due to dull buying pulse and unworkable costs of feedstock coupled with availability of PTA.

Ethylene In the first half of last fortnight, Ethylene prices increased in Asian and U.S.A markets while in the European markets, prices declined speculatively. Ethylene prices increased in Asian markets due to firm downstream market coupled with tight product availability. In the second half, selling offers for Ethylene increased significantly. In the beginning of last fortnight, Ethylene prices shot up significantly in Asian markets due to production activities rather than developments in energy markets. Monoethylene Glycol In the last fortnight, MEG prices increased a little bit. In the early stage of last fortnight, MEG market opened with an optimistic sentiment. In Asian markets MEG prices went up due to higher polyester co-feedstock price and coupled with improved demand from the downstream market. In the last fortnight, MEG selling offers declined. During the second half of last fortnight, MEG prices declined in Asian markets due to ample of product availability, coupled with weak downstream demand and sluggish regional buying interest.

Paraxylene In the last fortnight, selling offers for PX went down with support of unfavorable market fundamentals. In the beginning of the first half of last fortnight, selling offers for PX plunged in the Asian region, due to a decline in downstream demand. In the second half of last fortnight, PX market declined slowly. Selling offers for PX declined in Asian markets due to weak energy on one hand coupled with poor upstream demand which further turned bearish.

(May 15 - 31, 2013)

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Polyester Filament Yarn Polyester filament yarn market presented a soft outlook and prices were relatively stable-to-soft due to subdued demand from the downstream market in the Chinese domestic market. Polyester filament yarn prices remained stable initially, which decreased gradually towards the end of the first half of last fortnight due to lack of support from the downstream market. Polyester filament yarn market sentiments remained lackluster due to unfavorable market fundamentals during the second half. PET Chips PET chips market remained in bearish tone and prices went down marginally during the first half of last fortnight. PET producers revised down offers in order to reduce inventory pressure during the period. On the other side, downstream buyers were cautious and showed limited interest in buying the goods during the period. PET Chips prices followed a downward trend due to subdued demand from the downstream market in the Chinese domestic market during the second half of last fortnight. Propylene In the last fortnight, selling offers for Propylene surged in Asian markets due to higher upstream energy rates coupled with improved buying activity. In the second half of last fortnight, Propylene prices opened with stable sentiment. Propylene market speculators in Asia expected firm prices in the near future due to improved demand trends in the region coupled with a rise in downstream prices. In the U.S.A market, selling offers for Propylene prices increased due to improved demand. Acrylonitrile In the early first half of last fortnight, ACN prices declined in the global markets due to sluggish demand coupled with poor buying sentiments. In the European market, selling offers for ACN declined due to lack of buying and softer demand. In the early second half of last fortnight, ACN prices were stable in the Asian markets due to optimistic market fundamentals and revival of demand at the end of season. In the European market, selling offers for ACN declined due to weak demand. Polyester Staple Fibre Polyester staple fibre market fluctuated and prices were stable due to improved demand from the downstream market and the Chinese domestic market during the first half. Polyester staple fibre producers kept stable offers during that period. On the other side, downstream buyers were still cautious and purchased on need basis towards the end of the first half. Polyester staple fibre prices remained stable due to sluggish demand from the downstream market in the Chinese domestic market during the second half.

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Acrylic Staple Fibre ASF market continued to maintain a weak tone and prices remained stable due to subdued demand from the downstream buyers in the Chinese domestic market. Acrylic staple fibre prices were relatively stable due to weak market fundamentals and lack of support from the downstream buyers during the first half. ASF prices presented a modest performance and prices were stable due to subdued demand from the downstream buyers in the Chinese domestic market during the second half. Benzene In Asia, Benzene market followed a downward trend due to subdued demand from the downstream market during the first half of last fortnight. Benzene prices declined in line with weak energy value coupled with the fall recorded in European Benzene market. In the second half of last fortnight, Benzene market showed signs of improvement and prices remained stable in the Asian markets due to moderate buying sentiments in the regions during that period. Caprolactam CPL market showed signs of improvement and prices went up due to firm demand from the downstream market during the first half. Majority of CPL suppliers lifted their nomination prices, which affected market prices during the first half of last fortnight. In the Chinese domestic market, CPL market remained firm due to robust demand from the downstream market. During the second half in Asian markets, CPL market followed an upward trend and prices went up in tandem with feedstock market. Polypropylene In the first half of last fortnight, selling offers for PP increased in Asian markets except China, mainly due to improvement in feedstock prices coupled with tight availability. In the second half of last fortnight, market opened with an optimistic mood. Selling offers for PP in Asian markets increased due to improved demand trends in the region as buyers were refilling their low inventories. In the European market, selling offers for PP surged due to increased feed stock prices coupled with tight product availability. Nylon Chips Nylon Chips price increased in the last fortnight due to favorable market fundamentals. Downstream buyers have maintained bullish sentiment as upstream market situation remained firm. Even purchasing from textile sector was strong as demand from lining market was firm. Demand from downstream Nylon weavers and their purchasing power were well-built. In the second half, Nylon chips market surged due to firm support from market fundamentals. Nylon Filament Yarn Nylon filament yarn market presented a soft performance and prices remained stable due to subdued demand from the downstream buyers in the Chinese domestic market during the first half.

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Nylon filament yarn producers operated the plants at normal capacity during that period. On the other side, downstream buyers were still cautious and purchased on need-to-basis during the first half. Nylon filament yarn prices were stable due to lack of support from the downstream textile mills in the second half. Viscose Filament Yarn Trading sentiments of Viscose filament yarn remained lackluster and buying momentum was insipid during the first half. Majority of Viscose filament yarn producers revised down offer prices, but downstream buyers kept away from the market and showed no enthusiasm in buying during that period. In the second half, Viscose filament yarn market showed a soft appearance and prices went down due to sluggish demand from the downstream market in the Chinese domestic market. Spandex In the last fortnight, selling offer for Spandex increased. In the beginning of last fortnight, sellers maintained stable-to-firm offers due to moderate support from feedstock prices. Trading volume was moderate but flow of inquiries increased as more downstream players participated actively. In the second half, Spandex market opened with an optimistic sentiment. In the beginning of the second half, firm feedstock prices and thin margin of suppliers allowed little room for price adjustment in spite of insipid trades. Cotton International cotton market followed a downward trend due to lack of support from the downstream buyers during the first half of last fortnight. Cotton prices declined in line with weak macro-economic outlook during the period. International cotton market followed downward trend due to weak market fundamentals during the second half of last fortnight. Cotton planting progress in U.S.A improved but trading sentiments remained lackluster during that period. Wool Wool prices went up during the first half of last fortnight in Australia. Sales are in recess in South Africa until 5 June. In New Zealand, sale was cancelled due to the small number of bales roistered for sale. Wool prices followed an upward trend during the second half of last fortnight in Australia. Buyers for China were dominant, with support from buyers for India, Europe and Korea.

Cotton Linters & Pulp Cotton linter market portrayed a soft appearance and prices remained stable due to moderate demand from the downstream cotton pulp market in the Chinese domestic market. Imported dissolving pulp market presented a modest appearance during the first half. Cotton linter market continued to present a weak outlook and prices remained stable due to subdued demand from the downstream market in the Chinese domestic market during the second half. Dissolving pulp prices remained stable in both domestic and import market. Viscose Staple Fibre Viscose staple fibre market remained flat and prices stabilized after falling during the first half of last fortnight. Viscose staple fibre trading sentiments remained lackluster and buying momentum was dull during the first half of last fortnight. Viscose staple fibre market presented a soft outlook and prices were relatively stable due to subdued demand from the downstream market in the Chinese domestic market during the second half.

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(May 15 - 31, 2013)