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Cotton prices tumbled across markets in the last week of July with numbers plunging midweek on fears that China, the world’s largest purchaser of cotton, may continue having problems with its economy. The US weather forecast for the southern US are dry, which emerged as
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Viscose filament yarn prices rolled over during the last week of July, with modest demand-supply scenario at the producers’ level. Market offers for the first-class, second-class, and third-class rolled over in China. Export to Europe withered slightly, thus sales pressure shifted to
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Paraxylene prices in Asian markets fell in the last week of July after being lifted the previous week while a partial contract price settlement was reached by Idemitsu, Yisheng. However, the Curve flipped into contango as turnarounds loomed large. Mixed xylene prices also declined on
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Polyester staple fibre markets were under falling cost pressure and weak demand in the last week of July. Sentiment slightly picked up amid favorable sales, with upstream raw material slightly rallying weekend. In China, Sinopec nominated its PSF contract prices for August 2015 while
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Nylon filament yarn prices fell further during the last week of July as operating cost pressure eased on lower caprolactum and nylon chips prices. Meanwhile textile yarn makers continued to cut run rates on poor confidence and some others with tight liquidity or incurring losses operated at low rates.
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In the last week of July, Asian propylene prices inched up amid thin discussions talks ahead of new plant startups. Demand was also heard to be weak in China amid ample inventories. In US, chemical grade propylene was dearer while refinery grade dipped to a fresh 75-month low.
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Cotton yarn prices softened across Asian markets due to persistent weak demand and falling cotton fibre prices. In China, mute demand led to shrinking sales and increasing inventory, which drove mills to cut operations and sell at discounts. In India, cotton yarn prices fell but marginally,
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In the last week of July, crude oil markets continued to wriggle as US crude posted its highest monthly drop since the 2008 financial crisis, this time after a string of losses in July triggered by stock market slump in China and signs that top Middle East producers were pumping crude at record levels.
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After the declined cotton imports from China this June, India is all set to scale up its cotton exports to Thailand. One of the biggest mills in Thailand has shown interest in purchasing cotton from India after having samples approved.
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In June, cotton fibre export was at 36 million kg or 210,000 bales (of 170 kg each) valued at US$56 million down 3 per cent as compared to the previous month. Bangladesh, China and Pakistan were the largest importers of cotton in June with combined volumes at 190,000 bales amongst the 12 countries
