In the past week, Indian cotton yarn prices have begun to fall, which is the first time in three months. The reason is that demand in China has significantly reduced due to the new crown pneumonia epidemic.
That week, India’s domestic 30-count carded yarn fell by 1%. Since hitting a low on November 5 last year, Indian cotton yarn prices have increased by 7-8% in the following three months, while cotton prices have fallen by 2% during the same period, so cotton mill profits have also begun to improve. In addition, the reduced operating rate of yarn mills also supports yarn prices.
