According to Chinese Customs, China imported 108,300 tons of cotton yarn in June 2012, which is 13.33 percent higher than a year earlier. During the same period China exported 38,700 tons of cotton yarn. Imports overshot exports by 69,600 ton.
The cotton price in Indian market is all set to increase as Chinese cotton imports continue to surge. Cotton imports shot up 30 percent y-o-y between Sept 2011 and June 2012. Chinese cotton yarn imports too reached 1.02 million tons whereas, exports declined by 11.90 percent to 225,500 tons.
In the Indian market, prices of Sankar-6 raw cotton too have risen around 9 percent since the beginning of July from around Rs 34,500 per candy (1 candy = 355 kg) to Rs 37,500 per candy on August 3. Experts opine that prices will rise higher in the short term.
In Polyester fibre market, PSF manufacturers in Asian region are facing pressure from higher feedstock price as crude oil price shot up drastically last week which is expected to maintain this level despite the European crisis.
PTA and MEG price was around US$ 1010/ton and $ 960/ton respectively in Asian market, yesterday. In F E Asian market, PSF prices were offered at US$ 1470/ton, but according to market experts it is expected to increase further.
Due to similar reasons, price of ASF is also expected to touch level around US$ 2380/ton which is at present US$ 2345/ton to US$ 2355/ton in China, Japan and S Korea, respectively. Acrylic fibre trends have increased drastically in last few days and hence ASF users are afraid of further price hike.
In the Indian markets, VSF price too is quoting at high levels of around US$ 2100/ton to US$ 2125/ton and is expected to touch levels of US$ 2150/ton in near future.
Fibre2fashion News Desk - India
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