Yarn inventory stayed high

This year, the short-term rise and fall of polyester prices failed to entice downstream textile mills, most of whom mainly purchased yarns to meet the minimal requirements. Amid the strong price rise of feedstock, polyester yarn trades didn’t see much improvement, and the stocks kept accumulating instead of dropping. The reason was not only the weak demand, but also other factors such as a sharp decline in foreign orders, the still existing production suspension of some textile mills, and the reemerge of domestic pandemic. The so-called "Golden September and Silver October" peak season actually already ended after the Mid-Autumn Festival.