Cotton yarn markets saw low transactions in the first week of August for domestic goods in China while imported yarn took a larger share, particularly of Vietnam-origin. In India, although cotton prices did not move much, cotton yarn prices have lost more than 2 per cent, having plunged 8-9 per cent in past three weeks. In Pakistan, too cotton yarn prices declined continuously, but were pushed by falling cotton prices.
Polyester yarn markets in China were dismal, as fabric makers mostly bought on credit, although they had some margins at the moment. In India, spun polyester prices also declined in line with a revised drop 3.7 per cent for H1 August in PSF prices. Polyester yarn prices mostly rolled over in Pakistan.
Spun viscose yarn offers slightly increased on support of firm raw material cost, but actual trading prices saw no improvement, with prices for Fujian-origin siro-spun almost stable. Spun viscose yarn prices in India slightly fell although VSF prices were stagnant for more than three months. In Pakistan, viscose yarn prices too rolled over after VSF prices were revised upwards in late June.
Blended yarn prices remained relatively stable during the week in China, with blend of polyester however declining. PC yarn prices also declined whereas viscose blended yarn prices were slightly rising in line with a sharper rise of VSF values. In India, blended spun yarn prices clearly moved to lower levels over the weeks, partly due to a weaker demand and fall in cotton and polyester prices. In Pakistan, polyester-cotton yarn prices mostly rolled over for all major counts despite there was a sharp fall in cotton prices over the past 2-3 weeks.
Courtesy: Weekly PriceWatch Report
