Last week, Indian cotton yarn prices rose sharply for the second consecutive week driven by domestic and foreign demand. Inquiries increased significantly after the Chinese Spring Festival, and export quotations increased significantly.
That week, Indian cotton yarn quotations rose by 1-3%, but have not yet returned to the mid-January high. At the beginning of this year, the tight supply of cotton yarn in India caused prices to rise sharply. Afterwards, prices are expected to fall sharply. However, international demand is currently very active. One of the reasons is the restriction on the export of Xinjiang cotton products to the United States. Supported by export demand, Indian yarn prices have strengthened again.
In addition, the recovery in demand after the epidemic has also boosted yarn prices. At present, strong retail sales in European countries have led to a sharp rebound in Indian cotton yarn export prices, rising by 5-10 cents/kg that week, or 1.3-3%, returning to the level at the end of January. Overall, the current demand from China has raised the price of Indian-Pakistani yarn.
Pakistan cotton and cotton yarn prices rose sharply last week, partly due to increased demand after China’s Spring Festival. The export price of 20-count carded yarn increased by 10.31% in a single week, and the domestic 30-count carded cotton yarn increased by 5.88%. At the same time, 100% chemical fiber yarn, polyester-cotton yarn, and polyester-viscose yarn also increased by more than 5%.
Driven by demand from cotton mills, cotton prices in Pakistan rose sharply, with the Karachi spot index rising 6.36% to 22,700 rupees/maund. The price of imported US cotton rose to 101 cents/pound, an increase of 5.65%. </p
