Viscose staple fiber markets firmed up in China and prices continued to rise in the second week of August, due to higher cost amid Yuan depreciation. Low priced medium-to-low-end goods were generally cancelled, and fresh trading prices were fixed at a higher level. Mainstream producers raised offers weekend setting the bottom prices for medium-end and high-end goods.
Producers had strong intention to pass on cost, and stuck to their bottom lines for deals due to low inventory and existing unfulfilled orders. Downstream, despite lingering off season, acceptance was limited although they maintained rigid needs due to low raw material stocks.
Prices in India and Pakistan rolled over but transactions were thin. In India, producers’ prices were down US cents 4-5 a kg due to weak INR. In Pakistan, 1.5D VSF prices were unchanged.
Courtesy: Weekly PriceWatch Report
