MUMBAI (Commoditiescontrol) – Cotton yarn prices remained flat in the past week due to a significant drop of market activities on the Faisalabad and Karachi yarn markets. Yarn processors stop buying heavily in this part of the year, hoping to keep their inventories at minimum levels.
In Faisalabad, 30s carded was traded at PakRs137.80 per pound this week, rolling over for the third consecutive week. Export price for 30s carded also rolled over similarly at US$2.92 per kg CNF Far East.
Export markets have also remained weak as a result of year-end holidays in many countries, and prices remained frozen in the meantime.
A recovery in export orders and a continuously high level of cotton fiber prices should support cotton yarn prices in the coming weeks.
Trading activities have been reduced on the cotton fiber market after limited stocks remaining with the ginning plants.
Reports indicate that the 4% tariff on cotton imports could be eliminated in the coming days in order to support spinners to import fibers.
The benchmark KCA spot rate have stayed in the range of PakRs 6,250-6,300 per maund of 37.32 kilos.
(By Commoditiescontrol Bureau; +91-22-40015522)
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