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China's interest in buying Pakistani cotton yarn increases
In the past seven days (May 24-30), driven by rising international cotton prices and strong downstream market demand on the eve of Hari Raya, Pakistani cotton yarn prices continued to rise slightly, while polyester yarn prices remained unchanged. Due to the increasing market concerns about the weather in the United States and China, the sudden rise in international cotton prices has pushed up yarn prices. Among them, the price of 100% cotton combed yarn in Pakistan has risen significantly, and the export price has remained unchanged. Recently, customers in mainland China and Hong Kong have increased their buying interest. It is expected that the export price of Pakistani cotton yarn will increase in the coming week. According to statistics, in the past seven days, the spot price of Pakistan’s Kakira cotton fell by 1.33% month-on-month to Rs 7,400/Mund, and the price of 30S combed cotton yarn in Faisalabad market increased by 0.88% month-on-month to Rs 1,725/10 pounds. The export price was stable. US$3.22/kg. The profit of cotton yarn production in Pakistan has gradually increased. In the past seven days, the price of polyester staple fiber in Pakistan remained unchanged. The domestic price of 1.4D polyester staple fiber remained stable at 169 rupees/kg, up 37% from the same period last year, and the import price from China fell to 1.15 US dollars/kg. Affected by weak downstream demand, it is expected that polyester prices in Pakistan will continue to fall in the next few weeks. Article keywords: Pakistan cotton yarn exports overseas textiles