Indian cotton yarn continues to surge, and its return may not be far away
In the past week, yarn prices in India have continued to rise, with an increase of 20% in two weeks. The main reason is that the supply of cotton yarn is very tight.
That week, the price of domestic cotton yarn in India increased by 25-45 cents/kg, and the price of 40-count combed yarn increased by 45 cents, an increase of 11.8%. The price of cotton yarn has increased by 20-23% compared with two weeks ago, and has increased by 31-35% compared with a year ago.
The reason why Indian cotton yarn prices have soared is that domestic yarn stocks have plummeted after exports surged in the past few weeks.
In that week, the price of 100% pure polyester yarn in India increased by 10-13 cents, or 8-9%, and the increase reached 18-20% in two weeks. At the same time, as cotton prices lagged behind, the gross profits of Indian cotton mills also increased significantly.
However, the surge in cotton yarn prices has made the market unbearable and the actual supply is scarce, so sales are likely to decline.
Currently, cotton prices in India are supported by purchases by cotton mills, and acquisitions by state-owned company CCI have been stopped after the market price exceeded MSP.
As China reduces purchases before the Spring Festival holiday, India expects that the export demand for cotton yarn will decrease, leaving sufficient supply in India, and cotton yarn prices will return by then.
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