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Prices15 May 2017Cotton prices have remained suppressed in India because of the strong INR. The strong currency has attracted spinning mills in India to cotton fibre imports.
Prices15 May 2017Overcapacity in China’s man-made fibre and yarn industry has led to strong supply position relative to demand, placing continuous downward pressure on price levels.
Prices15 May 2017According to latest figures provided by the United States Department of Agriculture, Chinese estimated demand for cotton fibres in 2016/17 was revised upwards by 750,000 480lb bales, relative to estimates made in April (2.1% increase) to 37 million 480lb bales.
According to recent figures provided by the United States Department of Agriculture, the estimated supply of cotton in 2016/17 was revised downwards to 39.94 million 480lb bales from 40.24 million 480lb bales in April.
Prices8 May 2017Prices of polyester and viscose staple fibres and yarns continued to drop relative to the week before in terms of yuan and US dollar, as a result of overcapacity in the market and the weakening of Chinese yuan. The Chinese yuan dropped 0.11% against the dollar on Friday 5 May, relative to the week before, placing further downward pressure on the dollar price of Chinese fibre. Brazilian cotton prices are expected to dip due to stronger-than-expected domestic production and demand for imported cotton, according to the USDA. Furthermore, initial reserves were revised upwards in Brazil. Most of the increase in estimated cotton supply is expected to be held in reserves, while the rest are predicted to be exported. Markets are forecast to adjust in light of new data by allowing price levels to drop. Indian cotton prices dipped due to an increase in competition from imported cotton. There was also a marginal downfall in yarn prices, due to the use of cheaper imported cotton enjoyed by spinning mills. Despite this benefit, challenges arose for those relying heavily on Chinese markets, as news broke of China lowering its imports of yarn. The Indian rupee strengthened further against the dollar, placing more pressure on the competitiveness of Indian exported yarn. Demand for exported yarn in Taiwan remained quiet as prices remained unchanged.
