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Spun yarn prices generally stable

Spun yarn prices generally stable Source:
Date: 01-04-2013
Visits: 275
Very Poor

Cotton yarn prices were generally stable in Asian markets with few producers holding salable specs by adjusting offers, particularly combed and compact-spun yarns. More volumes were moved compared with the previous week. Indian producers showed strong willingness to lift prices, but most industry sources were pessimistic about the market outlook. Successive losses in polyester staple fibre values dragged down spun polyester yarn further.
Prices were also dipping lower given sluggish trades and with poor offtake from downstream textile mills, producers of spun polyester yarn also showed little interest to run their units. In Pakistan, activities on the polyester yarn markets slowed down due to the imposition of 2% sales tax on the sales of yarns, resulting into a no-buy attitude from yarn buyers. Viscose spun yarn prices also trended down, with regular specs sinking US cents 8 in China. Yarn producers received few orders and saw incremental inventory with most offering low prices to incentive transactions. A rise in sales level was reported on the Faisalabad yarn market, as yarn traders tempted to absorb the 2% sales tax on sales of yarns.
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