15 November 2011
Cotton yarn export prices are sligthly lower this month in Pakistan, partly due to a recent decline in cotton fiber prices. Demand remains relatively weak, as yarn prices are expected to further fall, our Pakistan Correspondent reports, with our long lists of yarn export prices.
Cotton yarn export prices are relatively resisting the downward pressure in Pakistan in November, due to the current stabilization of cotton fiber prices on both domestic and international markets.
Yarn customers are a little confused and reluctant in placing bulk orders, as they expect a decline of yarn prices in the coming days.
Yarn traders are mainly out of the market, waiting for a more certain atmosphere, while yarn processors are placing a few orders for their immediate requirements.
Yarn buyers are actually asking for discounts, in line with the recent drop in the cotton fiber prices on the Pakistan domestic market.
But yarn producers on the other hand are still firm and they did not reduce their asking prices, benefiting from a rather satisfying level of orders.
Spinners are also keeping their prices unchanged over current anticipation of yarn shortages in the winter season, due to a lack of power.
Trading activities on the yarn markets were also slow, due to the Eid holidays.
This has put some pressure over a few spinners who offered yarns at slightly lower prices, as a result.
Turkish yarn customers have reportedly shifted to the Turkmen yarn market, where they found comparatively lower prices.
Customers from Hong Kong, Korea, China, Indonesia, Taiwan, Japan, and Vietnam are reportedly shy in placing fresh orders.
Normal trading activities returned to the domestic cotton fiber market after holidays, and prices started moving up, as a result.
Benchmark Karachi Cotton Association (KCA) spot rate was Monday increased to Rs.5,500 per maund of 37.32 kilos.
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