From the end of July to the beginning of August, as the price of Indian cotton stopped falling and stabilized, the domestic and foreign quotations of Indian cotton yarn continued to rise. In the past week, the export price of Indian cotton yarn increased by 5 cents, and the FOB price of 30S carded yarn rose to US$3.05/kg.
At the same time, cotton yarn prices in Pakistan have remained stable as early price increases have suppressed demand. Affected by the rise in ICE cotton futures and tight domestic supply, cotton prices in Pakistan rebounded sharply in the past week. It is reported that the recent continuous rainfall in Pakistan may delay the launch of new cotton, and the spot price in Karachi rose 3.94% within a week.
However, due to the weakening demand from China, there has been no change in the price of cotton yarn in Pakistan recently. The 30S export quotation has stabilized at US$3.14/kg. Spinners are facing the double squeeze of reduced production and over-reliance on imported cotton for raw materials, but the increase in cotton prices will gradually be transmitted. to cotton yarn.
At the same time, affected by the increase in viscose fiber import prices, the prices of blended yarn and viscose staple fiber yarn in Pakistan increased in the past week. The import quotation of viscose staple fiber was US$1.9/kg, and the price of polyester staple fiber remained stable. As the price difference between cotton and polyester expands, yarn mill production will soon shift to chemical fiber products. Printing yarn quotations continue to rise, while Pakistani yarn prices remain stable
