In the past week, Indian cotton yarn prices have continued to rise, and domestic sales and export quotations have increased at the same time.
That week, the price of 30-count combed yarn in India increased by 1 rupee/kg, and that of 40-count combed yarn increased by 1-2 rupees/kg. After rising for two consecutive weeks, cotton yarn has gradually established an upward trend, which may prompt domestic downstream companies to actively replenish their inventories.
At the same time, Indian cotton prices were sluggish, falling 0.25% in a single week. Excessive supply last year continued to put pressure on the market, but this year’s excessive rainfall had a negative impact on new cotton production and quality. Both Gujarat and Maharashtra prices fell due to the decline in cotton quality.
The current US dollar quotation for Indian cotton yarn exports has also begun to rise. The price of 30-count combed yarn has increased by 20 cents in the past three weeks to US$2.65/kg, an increase of 8.2%.
