During the week ending 2 August polyester staple fibre markets were under the twin pressure of a seasonal demand lull and weakening cost structure. Also adding to the pessimism was the US President's announcement that he will impose import duties on remaining Chinese goods from 1 September. Several PSF makers cut down offers again due to the dampened market outlook. In India, producers' offers for H1 August were reduced as cost support eased and global demand was poor. Domestic offtake was also low given that cotton prices now have limited space to rise.
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