Affected by the decline of domestic cotton prices in the early stage, Pakistan's cotton yarn domestic sales and export prices have declined slightly in the recent week. At present, Pakistan's chemical fiber price has stabilized, and cotton price has stopped falling.
It is reported that the decrease in the cost of raw materials has enabled Pakistan textile mills to reduce their cotton yarn prices, which fell 1-2% last week. Despite the rebound in ice futures, Karachi cotton prices began to stabilize.
Due to the low purchasing power of domestic mills, the spot transaction of cotton in Pakistan is low at present, and the prices of BCI and organic cotton are also down, while the export price of cotton yarn is down because foreign buyers stop purchasing before Christmas. There is little left in 2019, market demand is expected to remain insufficient in the short term, and prices will remain weak.
At the same time, the prices of Pakistan's polyester cotton yarn and polyester viscose yarn have not changed, the downstream market demand remains strong, and the polyester short price starts to stabilize due to the large increase of import price. The price of imported polyester from China rose to US $0.89/kg. 1.4d polyester short rose 1.13%. However, in the past two weeks, the profits of chemical fiber manufacturers have not improved, but continue to decline.