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.
Prices in India were up in INR term but fell in US$ due to weak INR. In Pakistan, prices generally rolled over although PSF prices have further declined, over the recent drop of crude oil prices on the global market.
In Shengze, offers for 32s and 45s rolled over. In Qianqing, 32s was up US cent 1 a kg on the week. In India, polyester yarn 30 knitting yarns price was down US cents 4 a kg in Ludhiana market while in Indore market they gained INR1 a kg, however, it was down US cents 3 due to weak INR. In Pakistan, 30s and 60s spun polyester prices remained unchanged.
Courtesy: Weekly PriceWatch Report
