In the past week, the prices of cotton and cotton yarn in Pakistan continued to rise, with 30-count carded yarn rising by 1.14%, and export prices rising driven by demand from China and Europe.
That week, cotton prices in Pakistan rose sharply, with the Karachi spot price index reaching 20,200 rupees/maud, a single-week increase of 2.54%, and an increase of 26% in the past three months. The price of imported US cotton continued to rise by 4.4%, or 3.21%, reaching 141.60 cents/pound. Affected by this, the profits of pure cotton yarn manufacturers have shrunk significantly.
At the same time, cotton yarn prices in India continue to rise driven by higher cotton prices. Due to the excessive price increase of raw materials, spinning mills are unable to bear it, and the demand of spinning mills may be under pressure in the future.
The price of cotton yarn in India rose slightly that week, generally at 1-5 rupees/kg, but yarn mills have begun to reject excessive cotton prices. The price of blended yarn climbed to a new high, with 40-count combed yarn (65/35) rising by 1.4%. Cotton yarn export prices did not change during the Chinese New Year.
In the past two days, Indian cotton prices have stopped rising. S-6 spot prices have increased by 1% in the past week, a cumulative increase of 7% in the past four weeks, and a 76% increase in the past year.
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