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Prices8 May 2017All exported prices of Indian yarn dropped on 5 May, relative to the week before, despite the INR appreciating against the US.
Prices8 May 2017The Cotlook A index rose 0.3% to 89.10 cents per pound, from 88.8 cents per pound the week before. Wednesday’s price moved positively, despite the increase in global cotton production relative to estimates in March.
In April, the USDA revised upward the total supply of cotton in Brazil. Expected total supply increased by 325,000 480lb bales relative to expected supply for 2016/17 in March to 13.184 million 480lb bales.
Prices2 May 2017Prices of Polyester and Viscose Staple fibres are still dropping relative to the week before in terms of yuan, due to continuous overcapacity in the market. The Chinese yuan dropped 0.15% against the dollar on Friday 28 April, relative to the week before, placing further downward pressure on the dollar price of Chinese fibres and yarns. Cheaper imports of cotton into India have suppressed prices in the market. However, the appreciation of the rupee against the dollar has placed upward pressure on the price of exported yarns. Despite such pressures, overseas buyers are less than willing to accept the increase in price levels. High cotton and yarn prices are not sustainable due to a combination of higher than expected cotton supply in India, and stiff resistance to the increase in yarn export prices. Cotton prices in the US are expected to move positively due to stronger than expected exports, while China's cotton prices are expected to fall as a result of higher than expected domestic cotton output. Markets are active in Taiwan, with supply slightly tight. Prices therefore remain firm this week.
Prices24 Apr 2017China cotton yarn prices dropped relative to the week before after weeks of stability. Yarn market demand in Taiwan was active. Supply wasn’t tight, so yarn prices remained stable. The Chinese renminbi increased relative to the dollar by less than 1% when compared to exchange rates at the beginning of January. Pakistan and Indian cotton fibre supplies were further revised upwards by the United States Department of Agriculture in April relative to March, as a result of higher-than-expected imports from the two countries. Domestic demand in Pakistan for cotton fibre has also been revised upwards relative to March 2017, as have exports. In India, exports were revised downwards relative to March, as the stronger INR had a negative impact on exporters in the Indian economy. The Indian rupee increased against the dollar by 3% compared to the exchange rate on 6 March, and ranged between 4.9% and 6% relative to the exchange rate at the beginning of January.
Prices18 Apr 2017The drop in price level of Chinese viscose staple fibre began to accelerate once again, as it fell in terms of yuan by 3.8% to 15,540 yuan per tonne from 16,150 yuan per tonne quoted on 7 April the week before. On the other hand, polyester staple fibre showed signs of a temporary recovery, as prices increased marginally on Friday by 0.46% to 7680 yuan per tonne from 7,645 yuan per tonne quoted on 7 April the week before. Polyester yarns increased 1.7% to 11,950 yuan per tonne relative to 11,750 yuan per tonne quoted the week before, while viscose faced a 0.98% drop in price level to 20,200 yuan per tonne from 20,400 yuan per tonne the week before. Pakistan cotton prices remained stable, while Indian cotton fibres fell marginally. Expected Indian cotton supply was revised upwards in March relative to February, thanks to stronger than expected imports. Demand was also revised upwards, especially from the domestic market. In Pakistan, expected cotton supply was revised downwards in March compared to February, due to a drop in domestic productivity. Cotton fibre prices in Karachi remained stable relative to the week before. By Friday, the Indian rupee fell marginally by 0.3% relative to the week before against the dollar, while the Chinese yuan increased by 0.25%.
