Pakistan’s chemical fiber prices rise, yarn exports weaken
From the week of December 28 to January 3, the price of polyester staple fiber in Pakistan continued to rise, with 1.4D polyester staple fiber rising by 1.64% to US$1.2/kg, and the import price of viscose staple fiber rising to US$2.09/kg.
In the past three months, the price of polyester staple fiber in Pakistan has increased by 6.9% cumulatively, and by 12.73% in 2016, but it is still 25% lower than the price of cotton. The CIF price of China’s chemical fiber CNF has risen to US$1.04/kg.
In the past week, the price of cotton yarn in Pakistan has been stable. Spinners do not purchase much at this time of the year and try to keep inventories as low as possible. Affected by the year-end holidays, Pakistan’s yarn exports were very weak and prices stagnated. In the next few weeks, exports are expected to resume and cotton prices may remain strong, which will support Pakistani yarn prices.
Last week, domestic cotton transactions in Pakistan continued to decrease, and cotton stocks of cotton companies were almost low. Textile companies mainly imported foreign cotton using the 4% tariff quota. The current spot price of Pakistani cotton Kachila is 6250 rupees/Mund. Pakistan cotton prices are expected to firm in the coming weeks as crude oil prices rise. Pakistan’s chemical fiber prices rise, yarn exports weaken
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