Market: India Pakistan Cotton Yarn Price Skyrocketed Due To China'S Increasing Demand

Last week, Indian cotton yarn prices rose sharply for the second consecutive week driven by domestic and foreign demand. After the Spring Festival in China, inquiries increased significantly, and export prices increased significantly.

Indian cotton prices rose 1-3% in the week, but have yet to return to their mid January highs. At the beginning of this year, the price of cotton yarn in India rose sharply due to the shortage of cotton yarn supply in India. After that, the market expected that the price would fall sharply. However, the current international market demand is very active. One of the reasons is that the export of Xinjiang cotton products to the United States is limited. Supported by export demand, Indian yarn prices strengthened again.

In addition, the recovery of market demand after the epidemic also boosted yarn prices. At present, the retail strength of European countries has led to a sharp rebound in Indian cotton yarn export prices, which rose by 5-10 cents / kg, or 1.3-3%, to the level at the end of January. Overall, the current demand in China has raised the price of India Pakistan yarn.

Last week, Pakistan's cotton and cotton yarn prices rose sharply, partly due to increased demand after the Chinese New Year. The export price of 20 Combed Yarns increased by 10.31% in a single week, and the domestic 30 combed pure cotton yarns increased by 5.88%. At the same time, 100% chemical fiber yarn, polyester cotton yarn and polyester viscose yarn also rose by more than 5%.

Driven by cotton mill demand, Pakistan's cotton prices rose sharply, with Karachi spot index up 6.36% to 11700 rupees / Maud. The price of imported US cotton rose by 5.65% to 101 cents / pound.