In China, PC (65/35) 32s yarn prices were flat in Zhejiang in the last week of June, while 45s PC combed yarn prices were stable on the week. PV 32s were up US cents 2 a kg due to weak US$.
Blended yarn prices mostly rolled over across markets in China, India and Pakistan with fibre prices at firm levels and cotton making some upward move. In China, PV and PC yarn prices were stable in Yuan terms but rose in US$ terms, making export a bit uncompetitive.
In India, PC and PV yarn prices were stable on the week. With GST regime unveiled from 1 July, the tax on man-made synthetic yarn has been fixed at 18% and fabric at 5%. This has not gone well with the textile industry and there were reports of widespread protest in major textile producing hubs.
In Pakistan, with the week on Eid-ul-Fitr holidays, market activities were subdued and prices notionally rolled over.
Courtesy: Weekly PriceWatch Report
