Domestic and foreign demand weakens, Pakistani cotton yarn stops rising
In the week of March 9-15, Pakistani cotton prices continued to climb to new highs, but cotton yarn prices stopped rising because China’s demand for Pakistani yarn began to weaken.
The domestic cotton spot price in Pakistan continued to rise that week, with the official spot price in Karachi rising by 50 rupees to 6,800 rupees/maud (37.32 kg).
The price of polyester staple fiber in Pakistan remains stable, but as the price of polyester staple fiber in China plummets, the price of polyester staple fiber in Pakistan also shows signs of weakening. The price of China’s polyester staple fiber exports to Pakistan fell to US$1.02/kg, and the price of 1.4D polyester staple fiber was stable at 130 rupees/kg, still up 15% year-on-year.
Due to weakening domestic and foreign demand, cotton yarn prices in Pakistan have stopped rising. Further increases in cotton prices failed to be transmitted to spinning mills and downstream manufacturers, and factory profits continued to fall. Due to the recent increase in the price of yarn imported from China, China’s demand for Pakistani yarn imports has decreased. The demand for blended yarn and polyester-viscose yarn in Pakistan is active, but the price has not changed. The price of viscose staple fiber CNF in China dropped to US$2.17/kg, and the price of viscose in Pakistan was also bearish. Domestic and foreign demand weakens, Pakistan cotton yarn stops rising
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