Market demand recovers, Basha stops falling and rebounds
In the week ending October 20, demand in Pakistan’s domestic market recovered, and cotton yarn prices stopped falling and rebounded. 20S rose by 20 rupees/kg compared with last week, and 80S carded yarn increased by 50 rupees/kg. Faisalbad yarn market is witnessing brisk sales of blended yarn and pure cotton combed yarn.
In the export market, the price of Pakistani cotton yarn has not increased along with the domestic price, mainly because the Chinese market demand has weakened after the National Day. And due to the depreciation of China’s RMB, the Chinese market requires settlement in RMB. It is reported that the transaction volume of Pakistani cotton yarn at the Shanghai Yarn Exhibition was good, and it is expected that Pakistani yarn exports to China will increase in the next few weeks.
Last week, Hong Kong and South Korea increased their orders for 16S coarse yarn and 30S and 32S combed yarn. The prices of polyester staple fiber and polyester-cotton blended yarn remained unchanged, while the price of 30S blended yarn remained firm.
It is predicted that Pakistan’s cotton output this year will still not meet the needs of textile enterprises. Coupled with the recent surge in domestic cotton demand in Pakistan, textile enterprises have begun to replenish their inventories. According to statistics, as of October 15, 6% of Pakistan’s cotton picking was completed. The spot price in Karachi is 6,050 rupees/maund. Market demand recovers, Basha stops falling and rebounds
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