Blended yarn prices rolled over in China and Pakistan in the third week of April while they inched up in India on demand supply fundamentals.
In India, PV yarn prices inched up on recent upward revision in VSF and PSF prices while polyester-cotton rose on firmness in cotton prices. 30s (65/35) PV warp yarn prices gained another INR1 a kg (up US cents 2) in the third week of April in Indore market. In Ludhiana, PC 30s (52/48) prices increased INR2 a kg (up US cents 3).
In India, 30s (65/35) PV warp yarn prices in the second week of April gained INR2 a kg (up US cents 3) in Indore market. In Ludhiana, PC 30s (52/48) prices rolled over during the week.
The recent hikes in PSF and VSF price in India, pushed PV prices up that week in Indore market while demand was still weak. Meanwhile cotton prices also gained substantially, but PC market was yet to react as prices rolled over, implying that they might rise in coming weeks. Spinners will tend to pass-on cost if demand remains firm.
In Qianqing, PC (65/35) 32s yarn prices were stable in the first week of April while 45s PC combed yarn prices declined on the week. In China, blended spun yarn prices slightly declined in the week in line with a fresh drop in cotton and recent fall in polyester values.
In Qianqing, PC (65/35) 32s and 45s PC combed yarn prices were both down US cents 2 a kg due to weak Yuan in the fourth week of March.
Blended yarn prices stabilized in China, in line with a similar trend in fibre prices. PSF prices have slightly declined in the week while cotton prices continued dropping with the benchmark indicator falling 2% over the week. Viscose was progressing supporting PV markets.
In Pakistan, 24 PC (52/48) carded yarn further gained PakRe1 per pound (up US cents 2 a kg) on the Faisalabad market while 30s also gained PakRe1 per pound (up US cents 2 a kg).
In Qianqing, PC (65/35) 32s yarn prices were up US cents 2 a kg in the third week of March while 45s PC combed yarn prices were also up US cents 2 a kg.
Blended spun yarn prices moved in different directions in China, in line with the trends of different fibers and strengthening of the currency. The recent surge in PSF prices has pushed blended yarn prices on local markets. On the import market, prices are too high to compete with domestic suppliers.
In India, 30s (65/35) PV warp yarn prices in the second week of March inched up INR1 a kg (up US cents 4, also due to strong INR) in Indore market. In Ludhiana, PC 30s (52/48) prices rose further INR3 a kg (up US cents 6).
With stronger INR, Indian yarn have become dearer in US$ terms and may not be able to compete in the international markets. On export markets, PC yarns have risen INR2 at US$2.45 a kg FOB. The rise in polyester prices also resulted in PV yarn prices going up.
In India, prices have remained firm in the first week of March with PC prices slightly gaining. 30s (65/35) PV warp yarn prices were up US cents 2 a kg in Indore market. In Ludhiana, PC 30s (52/48) prices gained US cents 5 a kg due to strong INR.
In Qianqing, PC (65/35) 32s yarn prices rolled over while 45s PC combed yarn prices were stable during the week.
Firm fibre prices kept blended yarn values stable that week in China and Pakistan while they gained in India also supported by the currency appreciation against the US$.
In India, 30s (65/35) PV warp yarn prices regained INR1 a kg (up US cent 1) in the last week of February in Indore market. In Ludhiana, PC 30s (52/48) prices further gained INR1 a kg during the week.
Blended yarn exports of India declined 4% in January largely due to fall in prices while domestic prices regained its previous week’s fall to neutralise weakening INR.
In China, imports of yarn have fallen as domestic prices were down due to falling cotton prices. However, PSF and VSF prices were firming up as yarn makers resumed operation. Blended yarn prices generally rolled over.
In Qianqing, PC (65/35) 32s yarn prices were up US cents 2 a kg in the third week of February while 45s PC combed yarn prices were up US cents 3 a kg.
Blended yarn prices did not move after the long Lunar New Year holidays in China as competition from imported yarns continued to fade amid a continuous drop of raw material costs. However, the yarn markets were slow in returning to normal operation, after the holidays.
Demand is expected to progressively increase in the coming weeks.
In India, 30s (65/35) PV warp yarn prices inched up further INR1 a kg (up US cent 1) in Indore market in the second week of February. In Ludhiana, PC 30s (52/48) prices gained INR2 a kg (up US cents 3).
Blended yarn prices have further risen in India during the week, although fibre price rolled over while cotton was still cheaper. The price rise was in line with a reduction in operating rates since the beginning of the year.
Meanwhile export prices were sliding due to the absence of buyers from China, while export to Pakistan is likely to fall.
