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Polyester yarn price drops as yuan depreciates

YarnsandFibers News Bureau 2015-08-24 07:16:17 –

PSF prices have declined US cents 8-16 per kg across China, India and Pakistan in the second week of August. Thus, cost support to polyester spun yarns eased amid sluggish demand. The significant Yuan depreciation has caused prices to fall further in US$ term, although they were steady in local currency.

In China, spun polyester yarn markets were weak amid sluggish sales. Prices were steady but offtake was very slow. In India, polyester yarn prices continued to retreat on both domestic and export yarn markets in the mid of August. However, prices in Pakistan rolled over since there had already touched the trough recently.

In India, polyester yarn 30 knitting yarns price fell US cents 3 a kg in Ludhiana market while they also fell down US cents 4 in Indore market. In Pakistan, prices rolled over in the second week of August. In Shengze, offers for 32s were down US cents 6 a kg while 32s prices in Qianqing fell US cents 13 a kg on the week.

Courtesy: Weekly PriceWatch Report

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