Pakistani Yarn Exports Reduced
In the recent week (February 15-21), the domestic cotton prices in Pakistan continued to weaken. The downstream enterprises predicted that the yarn prices will continue to fall and the yarn demand will be sluggish.
Statistics show that the benchmark domestic cotton prices in Pakistan in the recent week fell by 100 rupees, down 1.43%. Mill demand is very weak, large buyers inventory is relatively abundant, due to the lack of high-grade cotton, now consider buying imported cotton. In the recent week, interest from overseas buyers weakened, and Pakistani yarn export quotations began to weaken, but demand from European buyers was good.
Pakistani domestic yarn trading downturn, polyester-cotton yarn, polyester-viscose yarn prices did not change, because polyester staple fiber, viscose staple fiber prices stable. Polyester staple fiber prices unchanged by the international market transactions did not change. During the Spring Festival of China, the price of China's polyester staple fiber imports was stable at US $ 1.18-1.20 / kg (Karachi CIF).
At present, Pakistan's chemical fiber manufacturers have high profits and will remain stable in the future. The sharp decline in the exchange rate of Pakistani rupee against the renminbi in the recent three months led to an increase of 11.59% in the price of polyester staple fiber. Viscose staple fiber prices did not change after 6.67% in three months. In recent weeks, the price of imported viscose staple fiber has dropped slightly, and may continue to weaken for some time in the future.