In the first quarter of 2024, the prices of Polyester Filament Yarn in India saw a notable increase of 2.17% compared to the previous quarter. This rise was attributed to a rebound in demand from key sectors such as textiles and apparel, which are recovering strongly post-pandemic. Additionally, supply constraints due to earlier production adjustments have further supported the upward price movement. Meanwhile, in China, prices have remained relatively stable, reflecting a balanced supply-demand dynamic amid cautious inventory management by manufacturers.
Moving into the second quarter of 2024, Polyester Filament Yarn prices in India continued to rise significantly. This increase was driven by sustained demand from recovering sectors and ongoing supply chain challenges that have tightened inventories. Factors such as rising feedstock costs and increased production costs due to inflationary pressures have also played a role in pushing prices higher. However, in China, prices dropped during this quarter as demand softened and manufacturers faced excess inventory, leading to price adjustments.
By August 2024, the prices for Polyester Filament Yarn in India were reported at approximately USD 1185/MT, indicating a slight decrease from Q2 levels. This decrease is attributed to a global substantial supply situation and moderate demand from key sectors, as manufacturers cautiously manage their inventories amidst economic uncertainties. In China, prices showed signs of stabilization after the previous drop, as manufacturers adjusted their production levels in response to market conditions.
Looking ahead to the fourth quarter of 2024, the market outlook for Polyester Filament Yarn may remain mixed. In India, prices may stabilize due to easing demand from key sectors as manufacturers prepare for seasonal fluctuations. Conversely, in China and other regions, prices are expected to rise further as manufacturers may ramp up production in anticipation of increased demand during the festive season. Global factors such as rising feedstock costs may likely continue to influence pricing dynamics across markets.