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Sunsirs: Cotton Price Falls Sharply and Insufficient Support Lead Chinese Cotton Yarn Market to Go down
March 17 2021 09:30:22SunSirs(Linda)

Since March, the cotton yarn market has been on the decline. As of March 15, the factory price of 21s cotton yarn in Shandong was 24225 yuan / ton.
Affected by the sharp drop of cotton in Zhengzhou, from last week, the cotton yarn Market shipment slowed down significantly. Most yarn enterprises were mainly on the wait-and-see basis, and the quotation was temporarily stable. The prices of some products were on the high side, with a downward trend. The prices of various varieties of cotton yarn decreased by 90-500 yuan / ton. As of last week, China's yarn inventory index was 8.8 days, China's yarn load index was 64.4%, cotton yarn inventory of textile enterprises was 5.1 days, cotton yarn inventory of textile mills was 15.8 days, and cotton yarn load of pure cotton mills was 63.4%. Since the beginning of this year, the price of cotton yarn has been rising all the way, and it is difficult for customers to accept the frequent price adjustment in the short term.

Futures: since March, the main 2105 contract of cotton yarn has gone up and then dropped. This week, the downward trend continues. The settlement price of the main contract on the 16th is 23150 yuan / ton. Zheng Mian's main 2105 contract fell below 15600 yuan / ton on the 16th, with a settlement price of 15590 yuan / ton. The fall of futures makes the market wait-and-see mood increase, once the cotton futures have any trouble, the cotton yarn market will be turbulent.

Downstream: by the end of last week, all cotton grey fabric inventory was 17.4 days, rayon grey fabric inventory was 18.4 days, domestic grey fabric inventory was 17.8 days; China grey fabric load index was 65.3%. From the operation point of view, grey fabric inventory decreased slightly, still at a low level. As most textile enterprises still have orders in their hands, they are also in the peak season, and there are many orders from April to May. The raw material inventory of downstream weaving factories is still relatively sufficient, and the customers who just need to buy are mainly sporadic, mainly on the wait-and-see basis.

For cotton yarn, it is greatly affected by the market of cotton. At present, the market of cotton spot has been declining since March. As of the 16th, the price of 3128b was 15989 yuan / ton, down 3.55%. The market trading is cautious. At present, the inventory of cotton yarn and grey cloth is still at a low level. In the long run, the downward space of cotton yarn price is limited, and it is expected to be adjusted mainly in the short term.

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