Affected by the Chinese Dragon Boat Festival, Pakistan’s yarn export prices remain stable
In the past week, yarn prices in Pakistan have gradually stabilized after experiencing a rise triggered by demand recovery. Affected by the Chinese Dragon Boat Festival, Pakistani yarn exports to China decreased.
In the next few weeks, as demand from downstream companies gradually increases, Pakistani yarn prices may further rise. In the past week, Pakistan’s domestic 30-count carded yarn was stable. Affected by China’s holiday, Pakistan’s yarn export prices did not change.
The import price of Pakistani cotton has risen sharply, reaching nearly 70 cents/pound, and the price of African cotton has increased even more. As domestic new cotton harvesting and processing gradually begins, domestic buyers and textile mills are more interested in new cotton and old cotton stocks, and Pakistan’s domestic spot prices have begun to show strength. According to forecasts, the rainfall that started on June 23 will continue until July 2, which is very beneficial to Pakistan’s new cotton production.
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