– From our Pakistan Correspondent Ahmed Fayz
Cotton yarn prices have begun increasing on the domestic and export markets in Pakistan, as cotton prices were staying very firm in the country.
In addition to the rise of material costs, demand remains very strong from the downstream yarn processors, with higher operating rates at home textile plants.
In the past seven days, benchmark 30s carded has gained Rs.20 per bundle of 10lb., or 1.08%, on the Faisalabad yarn market.
The cotton yarn export prices have also been eventually raised, due to a stronger buying interest from Chinese customers.
Larger export commitments for siro cotton yarns have been agreed.
The cotton fiber prices should stay very firm in Pakistan in coming days due to a lack of domestic supply and the inability of Pakistani spinners to import Indian cotton due to the recent military escalation.
Pakistan’s demand for cotton could immediately be shifted to USA, Brazil, and other cotton exporting countries, as a result.
Pakistan annually imports around 600,000 tons of cotton fibers, out of which 30% comes from India.
Stability on the polyester market
Polyester staple fiber prices have not moved in the last seven days, although import offers from China have been increased, compared to their level of the first week of the current month.
Gross margins are staying at a higher level at the domestic polyester plants, meaning that the PSF prices may not move in coming days.
Poly-Cotton (PC) and Poly-Viscose (PV) yarns have remained very firm or slightly risen for a few counts on the Faisalabad and Karachi yarn markets.
Viscose fiber prices are now more sharply falling in Pakistan, in line with around 5% decline of import offers from the foreign countries.
Domestic prices for VSF have lost Rs.5 per kilo or 1.85% in the last seven days, with a nearly similar slide of 100% viscose yarn prices in the country.
Source: Emergingtextiles
