After the Spring Festival, China's demand increases sharply, India Pakistan cotton yarn prices soar
Last week, Indian cotton yarn prices rose sharply for the second week in a row driven by domestic and foreign demand. After the Chinese Spring Festival, inquiries increased significantly, and export quotations increased significantly.
That week, Indian cotton yarn prices rose 1-3%, but have not yet returned to the peak in mid January. At the beginning of this year, the tight supply of cotton yarn in India led to a sharp rise in prices. After that, the market is expected to drop sharply. However, the current demand in the international market is very active. One of the reasons is that the export of cotton products from Xinjiang to the United States is limited. With the support of export demand, Indian yarn prices strengthened again.
In addition, the recovery of market demand after the epidemic also boosted yarn prices. At present, strong retail sales in European countries have led to a sharp rebound in Indian cotton yarn export prices, which rose by 5-10 cents / kg, or 1.3-3%, back to the level at the end of January. Overall, the current Chinese demand has raised the price of India Pakistan yarn.
Last week, cotton and yarn prices rose sharply in Pakistan, in part due to increased demand after the Chinese New Year. The export price of 20 Combed Yarns rose by 10.31% in a single week, while the domestic 30 combed pure cotton yarn rose by 5.88%. At the same time, 100% chemical fiber yarn, polyester cotton yarn and polyester viscose yarn also rose more than 5%.
Driven by demand from cotton mills, cotton prices in Pakistan rose sharply, with the Karachi spot index up 6.36% to 11700 rupees per Maud. The price of imported American cotton rose to 101 cents / pound, or 5.65%.