Textile fiber prices have bottomed out on the global market, partly due to a rebound of textile production after lunar year holidays in China. Cotton prices have sharply recovered in New York and on India’s domestic market whereas viscose prices were however heavily falling in China. Nylon and acrylic prices are been firm with wool prices dropping by contrast.
Cotton prices have everywhere rebounded in the past four weeks, with the New York market surging 7.2%.
The global production could be lower than expected this season, due to continuous issues in India and Pakistan.
In India, cotton prices have sharply rebounded, gaining 8% in four weeks in dollar terms, and therefore returning to their level at the start of the year.
Cotton prices have also bottomed out in the last days in Pakistan from relatively high levels.
With the Pak. rupee no more declining, textile exporters could find it more difficult to compete.
Polyester prices have also bottomed out in the past weeks, over a rise of crude oil prices triggering a similar increase of raw material costs at fiber plants.
Staple fiber and filament prices have however stabilized in the last week in China, and could now slightly drop.
Polyester prices have been kept unchanged in India and Pakistan.
Acrylic and nylon prices have also been very strong in the past weeks, in line with a rise of material costs.
By contrast, viscose prices have sharply declined in China, with an acceleration even observed in the last days.
VSF prices have fallen 7% in four weeks.
Wool prices are also declining in the current period. If the long-term drought affecting the Eastern part of Australia has reduced available quantities, it has also lowered the quality of wool fibers.
Source: Emergingtextiles
