NEW YORK COTTON FUTURES:
New york cotton futures rose higher this week ahead of Supply and demand estimates report in next week. During a day session cotton touched the highest level of prices and week ended with gain of 271 points.
China cotton also showed firm sentiment during the week and ended the week with some gains.
Indian cotton Prices also followed the international sentiment and remained firm although last week the Indian cotton prices were soft but this week prices maintained stable and firm position.
Pakistan cotton prices remained unchanged and no major change was felt. Pakistan Cotton crop is just ending with little stocks of fine quality cotton. Therefore the impact of Pakistan local cotton market on yarn and fabric prices will be lesser now and market will react according to the International sentiments.
YARN MARKET ANALYSIS
Yarn prices in the leading yarn producing countries i.e Pakistan, India, Vietnam, Indonesia, Turkey, Taiwan and China remained stable and firm during the current week after some big drops during the last week . It has also been reported that CIS origin sold big quantities of yarns to China during the last couple of weeks.
This factor put pressure on prices in India and now Indian spinners are showing flexibility in their prices and having good negotiable margins in their asking prices.
Polyester/Cotton blended yarn prices were firm mainly due to rise in polyester prices after the recent hikes in Crude Oil prices. Mostly mills for blended yarns are staying firm at their prices as price increase of raw materials is not allowing them to decrease their prices to grab orders. Prices for other blended yarns like Viscose, Acrylic and flex were nearly unchanged.
FABRIC PRICE ANALYSIS
Fabric Prices also behaved like the yarn prices and mostly sellers quoting the same prices during the current week.