In Shengze, offers for 32s and 45s polyester yarn were up in the last week of November. In Qiangqing, offers for 32s weaving yarn were flat on the week. In US$ term, they were up US cents 2-3 a kg on the week, due to strong Yuan.
Polyester yarns offers in Shengze market picked up amid moderate enquiries and selling sentiment and did not see notable improvement. There was huge uncertainty about the sentiment in the future, thus players held heavy wait-and-see stance. They did not have too much interest to stock up huge raw materials too.
In Pakistan, polyester spun yarns prices did not change, despite the rise in PSF prices in November, supported by the firm polyester intermediate prices.
In India, demonetisation policy has almost halted trade and transport of yarns thereby reducing economic growth in and negatively affecting the INR.
Courtesy: Weekly PriceWatch Report
