The Chinese raw materials market has weakened and has been on a declining mode since the last few weeks.
Prices of raw materials in the polyester value-chain continue to decline. PTA prices have fallen by about 5 percent in the month, due to the impact of lower crude oil market.
On the other hand, downstream weaving enterprises have reduced their procurement of materials, as textile market is about to enter its off-season.
Prices of domestic cotton are lower than those imported from other countries, which has led to a serious competitive challenge for Chinese textile and apparel producers.
Fibre2fashion News Desk - China