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Global cotton markets volatile in April

Cotton markets were volatile throughout the first half of April. The global spot benchmark, the Cotlook A index, gained in the first two weeks of April. Fundamentals remained the same as in prior two months – with strong export sales and even stronger shipments, coupled with active on-call sales.

However, uncertainty squeezed market activity as trading was fixated on impending tariffs in the US-China conversation. No new tariff restrictions were in force between China and the US and may be coming or contemplated over the next three months.

China, in response to proposed US tariffs on Chinese goods, announced a plan to impose a 25 per cent tariff on 106 US goods, including agricultural products such as cotton, soybean and corn. The plan can adversely impact the entire US cotton industry, as China imports a significant volume of US cotton each year.

Cotton yarn market was steady in China as participants were cautious overall, with prices unchanged. Offers for some best-selling products picked up slightly, mainly for high-quality and high-count yarns, while the prices of conventional products were unchanged.

In India, with cotton prices rising this week, yarn prices remained unchanged and may move up the coming week. 30s combed cotton yarn for knitting remained stable in Ludhiana.

 
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