Affected by the previous decline in cotton prices in Pakistan, the domestic sales and export prices of Pakistani cotton yarn fell slightly in the past week. At present, chemical fiber prices in Pakistan have begun to stabilize, and cotton prices have stopped falling.
It is reported that the decline in raw material costs has enabled Pakistani textile mills to lower their cotton yarn quotations. Last week, Pakistani yarn prices fell by 1-2%. ICE cotton futures rebounded, and cotton prices in Karachi began to stabilize.
Due to the low buying interest of Pakistani yarn mills, the current spot transaction of Pakistani cotton is sluggish. BCI and organic cotton prices have also fallen. The export price of cotton yarn has been affected by foreign buyers during Christmas. Purchases were stopped before and there was a large decline. There is not much left in 2019, short-term demand is expected to remain insufficient and prices will remain weak.
At the same time, the prices of polyester-cotton yarn and polyester-viscose yarn in Pakistan have not changed, and downstream demand remains strong. The price of polyester staple fiber has begun to stabilize due to the surge in import prices. The price of imported Chinese polyester staple fiber rose to US$0.89/kg. 1.4D polyester staple fiber rose 1.13%. Despite this, the profits of chemical fiber manufacturers have not improved but continued to decline in the past two weeks.
