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SunSirs: Supported by Downstream Orders, China's Cotton Yarn Market Has a Better Atmosphere
May 21 2021 10:37:42SunSirs(Linda)

The price of 32 cotton yarns is around 25,700 yuan/ton.

The cotton yarn spot market is currently in a good atmosphere. Spinning enterprises mainly focus on small and short orders. The downstream fabric manufacturers just need to make up for the stock, and some high-priced downstream products are unable to accept the high prices. At present, the inventory of cotton yarn in spinning enterprises is generally low. The data shows that last week, China's yarn inventory index was 12.4 days, the cotton yarn inventory of spinning enterprises was 8.6 days, and the cotton yarn inventory of weaving factories was 14.7 days. From January to April 2021, my country imported 800,000 tons of cotton yarn, an increase of 31.1% year-on-year. In April, the export value of my country's textile yarns, fabrics and products was 12.150 billion U.S. dollars, an increase of 25.65% from the previous month.

The opening price of No. 20 cotton yarn main force 2109 contract was 23365 yuan/ton and the settlement price was 23475 yuan/ton; the closing price was 23780 yuan/ton, an increase of 1.17% from the previous day. The upstream cotton spot market is relatively stable. On the 20th, China's cotton price index is 3128B at 15851 yuan/ton. The downstream grey cloth market purchases stable, and textile mills have sufficient orders. Some orders can be placed until mid-June.

The weather in the northern Xinjiang production area was worse than in the same period of previous years, and weather factors helped the cotton market. With the relatively high price of raw materials, the wait-and-see mood of purchasing is getting stronger, and the yarn market is expected to be stable.

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