China’s demand is insufficient, India and Pakistan’s cotton yarn exports are weak
Although cotton prices in India have stabilized in the past week, cotton yarn prices have accelerated their decline, and yarn mill profits have further shrunk. The spot price of S-6 in India increased by 0.9% that week. In the past four weeks, India’s 30-count carded yarn has fallen by 4%.
At present, demand from Indian downstream companies is still weak, and Chinese import companies have not yet fully returned to the market. In April, yarn imports from India fell by 73% year-on-year. Although the national lockdown is a factor, Indian yarn exports have actually been declining since last summer. Until European and American retail consumption recovers and China’s import demand recovers, Indian cotton yarn prices will continue to fall.
In the past week, with the end of Eid al-Fitr and the blockade, Pakistani textile mills have resumed production. The price of cotton yarn has remained firm or slightly increased, depending on the variety. Cotton yarn exports are still sluggish because the decline in China’s clothing exports to Europe and the United States has led to insufficient demand for cotton yarn imports.
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