Yarn Market Morning Express (Oct 21, 2010)

The spots inventory of textile enterprises increases and the rising prices slowed down obviously. Due to the shortage of orders, textile enterprises become more active to sell goods, but the atmosphere of wait-and-see remains heavy. Currently, the factual transaction prices of combed cotton yarn 40S are at 38500-39000yuan/mt while the higher offers are at 40000-41000yuan/mt. As downstream plants are cautious taking offers, transactions are hard to be done. With the increase of inventory, selling interests will probably continue to recover. In addition, the sales of polyester yarn keep slowing down and prices have stopped rising. The market prices of polyester yarn 32S for weaving are at 18600yuan/mt and for knitting at 19200yuan/mt, while in Fujian and Guangdong at 18400yuan/mt, pre-tax.

$1=CNY6.67

source:CCFGroup.com