Indian cotton yarn export quotations rebound sharply
In the past week, Indian cotton yarn export quotations rebounded sharply, supporting a slight increase in domestic cotton yarn prices. That week, the domestic price of cotton yarn in India stopped falling and rebounded after falling for three consecutive weeks, with 30-count carded yarn rising by 1-2 rupees/kg.
Domestic cotton yarn prices in India rose in the first week of January and then fell sharply. After the price of cotton yarn rebounded last week, the price of 30-count carded yarn was 20-22% higher than three months ago.
The reason for the rise in cotton yarn prices in India is that insufficient domestic production has led to a very tight supply of cotton yarn. As demand suddenly rebounded at the end of last year, domestic cotton yarn stocks were almost exhausted.
At present, the demand from domestic downstream enterprises in India is increasing, the price of cotton yarn is rising, and the yarn mills have also purchased competitively priced raw materials from CCI, and their profits continue to improve.
In recent months, Indian cotton yarn export quotations have continued to rise. Last week, the price rebounded, averaging 10-18 cents/kg last week. The previous price bottom was confirmed. .
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