In the past week, Indian cotton yarn KW20/1 and KW32/1 price decreased by 3 INR, and the price for KW20/1 and KW30/1 CNF China main port remained unchanged, which were at US$2.48/kg and US$2.70/kg; while Pakistan cotton yarn KW20/1 CNF China price was still at US$2.45/kg; Vietnam cotton yarn CNF China main port price was still at US$2.80; and Indonesia cotton yarn CNF China main port price was unchanged at US$2.88. In terms of raw materials, spot prices of Indian cotton, Brazilian cotton and American cotton rose slightly, the Pakistani spot price is slightly lower because of the exchange rate factor. The price of CotlookA index went up slightly. Textile profits in Vietnam and Pakistan are slightly better than last week, but remain at the historically low level. Indian yarn prices fell, worsened the profits.
The overall yarn market showed no signs of improving, textile mills still complain about poor processing profits and low downstream consumption. Occasionally there were inquiries for Pakistan yarn, but very few substantial transactions; Vietnam’s textile and apparel exports had a year-on-year growth in October but with a limited range; China’s textile and apparel exports in November showed a slowdown in accumulative growth rate; The market attributed the global economic downturn to poor consumption.
At a present the global economy is slowing down because of trade friction between China and the United States, the market adopts the strategy of “buy as you go”. The orders are short and small. The yarn market is expected to remain at the bottom in the next two or three months
