Affected by the decline in Pakistan's cotton prices in the previous period, the domestic sales and export prices of Pakistan's cotton yarns fell slightly in the last week. At present, the price of chemical fiber in Pakistan has stabilized, and the price of cotton has stopped falling.
It is reported that the decline in raw material costs has enabled Pakistani textile mills to lower their cotton yarn prices. Last week's yarn prices in Pakistan fell by 1-2%. ICE cotton rebounded, Karachi cotton prices began to stabilize.
Due to the low buying interest of Pakistani mills, the current cotton spot transactions in Pakistan are sluggish, and BCI and organic cotton prices have also fallen. The export prices of cotton yarns have fallen sharply because foreign buyers stopped purchasing before Christmas. With little left in 2019, short-term demand is expected to remain insufficient and prices will remain weak.
At the same time, the prices of Pakistani polyester cotton yarns and polyester viscose yarns have not changed, and downstream demand has remained robust. The prices of polyester staple fibers have begun to stabilize due to the surge in import prices. The price of imported Chinese polyester staple fiber rose to US $ 0.89 / kg. 1.4D polyester staple fiber rose 1.13%. Nevertheless, the profits of chemical fiber manufacturers have not improved in the past two weeks, but continue to decline.
