It is understood that September is Eid al-Fitr in Pakistan. In the week before Eid al-Fitr (August 27-September 4), Pakistan’s domestic cotton yarn consumption demand is strong, and cotton yarn prices have further surged, with C20S prices rising by 3.24%. At the same time, the surge in imported combed yarn has put certain pressure on the price of domestic cotton yarn in Pakistan. In the export market, affected by the instability of international cotton prices, Pakistan’s cotton yarn export prices remain firm. As new cotton gradually comes on the market, textile companies are currently more cautious in purchasing and are in a wait-and-see mode, waiting for cotton prices to fall further, and cotton stocks in spinning mills continue to decline.
Last week, the price of polyester staple fiber in Pakistan rose slightly by 1-2 rupees/pound. Among them, the price of 1.4D polyester staple fiber remained at 117 rupees/kg (US$1.13/kg), and the price of blended yarn also remained unchanged.
As domestic cotton demand continues to be strong, some traders expect that tight supply may cause cotton prices in Pakistan to continue to rise. Currently, the spot price of Kachira in Pakistan is 6,550 rupees/Mund. Cotton supply in Pakistan is tight, yarn prices remain firm
