In Qianqing, PC (65/35) 32s yarn prices rolled over in the first week of January (however, prices were up US cents 2 a kg due to weak US$) while 45s PC combed yarn prices were stable on the week (up US cents 3 a kg due to weak US$).
Blended yarn prices have remained stable in the week in China, in line with a weakness in demand, whereas fiber prices were far from receding. Spinners were forced to maintain their offers in order to keep maintain their already low margins. They were also complaining over the large volume of foreign yarns entering the country, especially from India.
In India, PC yarn prices firmed up rising PSF and cotton cost while PV yarns rolled over on stable VSF values. Spinning and yarn trading was recovering slowly from the disruption triggered by demonetization policy.
In Pakistan, PC yarn prices were lifted by rising PSF and cotton prices as trading on the cotton market was limited on low stocks with ginners. 20s and 30s PC yarn prices gained PakRs1-2 per pound or US cent 2-4 a kg on the week. PV 30s yarn prices also gained PakRe1 per pound or US cent 2 a kg during the week.
Courtesy: Weekly PriceWatch Report
