From the end of September to the beginning of October, the price of cotton yarn in Pakistan continued to fall, the price of cotton rebounded, and the price of chemical fiber fell.
That week, the price of cotton yarn in Pakistan fell due to weak demand from textile mills, and the prices of major domestic varieties fell by about 1%. Despite the rise in the rupee exchange rate and domestic cotton prices, Pakistan’s cotton yarn export quotations (USD prices) have remained stable.
Pakistan cotton prices are likely to remain strong for some time to come as large textile mills need to purchase large amounts of raw materials to replenish their stocks. In the past four weeks, as the domestic new cotton market volume has been significantly lower than expected, Pakistan’s domestic cotton prices have increased by 8.7%. Rising cotton prices have led to lower profits for Pakistani cotton mills.
In the past three weeks, although the prices of raw materials have changed differently, Pakistan’s polyester-cotton yarn and polyester-viscose yarn have basically remained unchanged. The price of polyester staple fiber fell along with the price of raw materials, with 1.4D polyester staple fiber falling by 1.58% in a single week. Affected by the strong rupee exchange rate and the weakening RMB exchange rate, the import price of polyester staple fiber fell to US$0.90/kg, prompting domestic companies to lower their quotations.
At the same time, the profits of Pakistan’s domestic polyester staple fiber manufacturers remain high, higher than the average of the previous six months, and may further fall to new lows in the future. The demand for polyester yarn is strong and the price is firm. The imported viscose staple fiber price is stable and the domestic price is stable. In recent weeks, the price of imported Chinese viscose staple fiber has remained at US$1.37/kg.
