In the past week, cotton prices in Pakistan have rebounded sharply, and the domestic sales price of cotton yarn has dropped. The price of 30-count carded yarn has dropped by 2.54%, and the price of combed yarn has also fallen.
Cotton yarn export prices fell even more, with 30-count carded yarn falling 5.08% in a single week and 13.85% lower than a year ago. At the same time, cotton prices in Pakistan increased by 6.79%. The rise in raw material prices and the fall in sales prices have led to a sharp decline in profits of cotton mills. The factories have accumulated inventory and reduced production.
On the contrary, the prices of polyester-cotton yarn and polyester-viscose yarn in Pakistan rebounded due to rising raw material costs. The price of polyester staple fiber has soared due to the surge in international crude oil futures. The price of imported Chinese polyester staple fiber has surged by US$0.96/kg, and the price of 1.4D polyester staple fiber has increased by 5.56%. However, the profits of chemical fiber manufacturers have not been affected.
