Since September 19, the volume of cotton on the market in India has continued to increase, cotton prices have fallen under pressure, and cotton yarn prices have subsequently been reduced. The prices of polyester staple fiber and yarn began to stabilize after rebounding.
According to statistics, in the past seven days, the price of S-6 cotton in India has dropped by 0.85% to 46,800 rupees/kandi, the price of Punjab 30S pure cotton yarn has dropped by 0.67% to US$3.12/kg, and the price of 30S polyester yarn has dropped by 0.23%. to US$2.05/kg, the production profit of spinning mills increased from 15% to 18%.
In the export market, in the past seven days, the price of 30S pure cotton combed yarn in India has dropped by 10 cents to US$3.05/kg, a decrease of 3.17%. Compared with the peak of US$3.70/kg in early July, the price has dropped by 65 cents, a drop of more than 17.5%. In the past two weeks, the price of polyester-cotton blended yarn has fallen by 15 cents to US$2.75/kg.
Market analysts believe that, supported by strong international demand, Indian cotton prices will continue to remain strong in the future. However, due to the continued depreciation of the Indian rupee, the price of Indian cotton in US dollars may fall slightly. The price of polyester yarn is driven by the decline in polyester prices in China and is expected to continue to decline in October. (Title: Indian yarn export prices dropped significantly)
