Textile fiber prices have begun tumbling across the board on the international market and on domestic markets in Asia after US President Trump has decided raising import tariffs on a series of Chinese products. An already depressed textile market was actually betting on a sharp increase of China’s buying of US cotton. The weakness of demand for textiles this year in China is now pushing down all fiber prices to lower levels, acrylic excepted. Textile fiber prices have begun tumbling across the board after US President Trump has announced its decision to raise tariffs on a series of imports from China.
Textile markets were actually anticipating that a deal would be reached in the curre
nt month, therefore boosting Chinese demand for US cotton and pushing up prices to higher levels.
An already depressed textile environment has suddenly stopped supporting prices, especially in China where the peak season has been disappointing with inventories at higher levels than usual.
In New York, the nearby cotton contract has lost 15% from its level four weeks ago, triggering a similar decline on the physical international market.
On the domestic markets where cotton prices had previously risen, they have begun sliding.
In India, the market indicator has already dropped 4.9% from its level four weeks earlier.
In Pakistan where cotton is in tight supply, prices have less sharply fallen.
In China, cotton prices have begun unusually tumbling in the past days, being now down 5.4% from their level four weeks earlier.
Polyester fiber prices have also started plunging in China, due to a poor level in demand and a fall of raw material costs at fiber plants.
The benchmark 1.4D PSF has lost 8.1% in four weeks in dollar terms, partly due to the fall of the yuan in the last days.
Viscose prices have also begun seriously losing ground, with a drop of 5.6% in dollar terms in China.
Nylon 6 prices are also falling day after day in the Far East while only acrylic prices are currently surging.
Source: Emergingtextiles
