In the past week, Indian cotton yarn prices have continued to fall, and polyester-cotton yarn and pure polyester yarn have fallen sharply in the past four weeks. Polyester-cotton yarn fell by 2.6% that week, and has fallen by 6% in the past four weeks. The cumulative price of 100% pure polyester yarn fell by more than 10%, while that of woven yarn fell slightly. In the past four weeks, viscose yarn fell by 7.3%, and 100% cotton yarn fell by only 2.4%. Knitted polyester yarn fell by 8.6%, and carded polyester-cotton yarn fell by 6%.
Currently, domestic demand in India is relatively weak, and yarn mills are forced to lower their quotations. The drop in polyester staple fiber prices in early June triggered a sharp drop in chemical fiber prices. Cotton prices also fell, with S-6 down 1.3%. Although spot supply is tight, the decline in international cotton prices has dragged down domestic cotton prices. Traders and textile mills are turning to imported cotton, and the price trend of floral yarn is consistent with that of ICE cotton futures.
Indian cotton yarn exports encounter fierce competition from Pakistani cotton yarn. The decline of the Pakistani rupee makes it very competitive. In addition, Pakistan’s cotton import prices also fell with the rupee exchange rate, offsetting the negative impact of the decline in cotton yarn export prices.
AAA composite fabric network ASE3RETRUY7I8OFG
