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February witnesses upside in MMF & cotton prices

09
Mar '10
By the end of month in February, prices of cotton yarn rose from those in January. Price of cotton carded yarn 32s stood at 21,500 Yuan per ton, an increase of 400 Yuan per ton from the end of the previous month, and up by 4,000 Yuan per ton, from the same time last year.

The entire textile industry has basically walked out of the predicament of the financial crisis. At present, cotton yarn inventories are not enough as, the main problems faced by enterprises are difficulties in recruitment, which have created some impact on normal production of enterprises and labor costs have also correspondingly increased.

Most enterprises are adopting a wait and watch attitude towards purchasing cotton, as it has been rising in recent times; therefore, transactions in cotton spot market are relatively light. It is expected that cotton trade volume will be increased by mid-March.

In the previous month, market prices of man-made fibre raw material also increased. Price of Polyester Staple Fiber (PSF) stood at 10,600 Yuan per ton by the end of the month, up 100 Yuan per ton from January, while price of Viscose Staple Fiber was 19,500 Yuan, up 650 Yuan per ton from the end of January.

Fibre2fashion News Desk - China


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