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Rayon yarn price rises further in last week
21
Jul '08
Following the rise in both trade volume and price level in the former week, rayon yarn market continued its favorable momentum last week; price saw a slight increase.

On July 20, wholesale price of rayon yarn 30s in Qianqing market was quoted at 19,700 yuan per ton, up 200 yuan per ton compared with the central price of 19,500 yuan per ton a week ago. However, this surge is quite meager compared to 500 yuan hike in the previous week.

Analysts are of the opinion that the recent rise in rayon yarn price can be attributed to various reasons.

Firstly, actual demand from down stream market has enlarged. Rayon yarn producers obtained orders, but mainly from domestic market.

Secondly, due to the upcoming Olympic Games, some VSF plants temporarily suspend production or cut production, resulting in tight supply in VSF market and rise in price. During the last weekend, VSF manufacturers observed that even though offer prices touched 16,500 yuan per ton, high demand prevails among buyers.

Most investors believe that the outlook of rayon yarn market still have some room for increase, but that will be not more than 500 yuan per ton, as the price of cloth made of rayon yarn has not promoted yet. It is expected that weaving plants will switch to production of other products if rayon yarn price continues to rise sharply, thus reducing their demand on rayon yarn.

Fibre2fashion News Desk - China

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