According to the monitoring of SunSirs, the price of cotton yarn 32s in Shandong on the 17th was 26,200 RMB/ton, down 17.09% year on year.
The purchasing atmosphere in the cotton yarn market was light. Although the cotton market was slightly boosted, the downstream spring orders did not meet expectations. Textile enterprises replenished the warehouse as needed. In addition, due to the high cotton price in the mainland, the cotton yarn spot profit of textile enterprises narrowed significantly, and the cotton yarn market declined slightly.
The traditional peak consumption season of the textile industry did not usher in the expected effect. Under the influence of the Xinjiang cotton ban, yarn enterprises were cautious in purchasing, and the demand side was under great pressure to recover. The market was pessimistic about future consumption. The trading atmosphere in the cotton fabric market was weakened, and the weaving factory maintained small order shipments, with a lower production and sales rate than the same period in previous years.
It is expected that the cotton yarn market will continue to bear pressure in the short term
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