Indian cotton yarn prices rise, Chinese demand gradually recovers
During the week of February 23rd to March 1st, cotton prices in India continued to rise, and cotton yarn prices were raised accordingly. According to statistics, the price of domestic cotton yarn in India increased by 1-2 rupees/kg last week. The FOB price of 30S pure cotton yarn increased by 5 cents/kg to 3.3 cents/kg. The FOB price of 30S blended yarn increased by 5 cents/kg to 3.3 cents/kg. 2.95 cents/kg.
It is understood that due to the increasing competitiveness of Vietnamese cotton yarn, India’s share in China was gradually squeezed in 2016. After the Spring Festival in 2017, China’s demand for Indian cotton yarn began to gradually recover. India’s monetary policy has led to the closure of domestic small and medium-sized textile companies and a decline in cotton yarn production. At the same time, the cancellation of the TPP agreement by the United States has affected Vietnam’s spinning production. These two factors have supported and boosted Indian cotton yarn prices and exports.
The market expects that as new Indian cotton continues to be processed and put on the market, Indian cotton prices may be subject to a correction. Indian cotton yarn prices increase, Chinese demand gradually recovers
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