Polyester yarns markets in China were weak in the third week of August, and some sporadic batches of cargoes were traded. Yarn prices were stable to weak with 32s spun polyester yarn was mainly offered at same levels. The influence of RMB depreciation on the demand remained limited as spinning mills did not improve run rate notably on the back of slow sales and the purchase of raw materials was just to meet rigid demand.
Polyester yarn price drops as yuan depreciates
PSF prices have declined US cents 8-16 per kg across China, India and Pakistan in the second week of August. Thus, cost support to polyester spun yarns eased amid sluggish demand. The significant Yuan depreciation has caused prices to fall further in US$ term, although they were steady in local currency.
