SunSirs: Accumulation of Downstream Inventories Increases, Cotton Yarn in the Chinese Market Remains Weak
December 22 2021 08:22:15 SunSirs (Linda)
Price: On the 21st, the price of 32S cotton yarn was 30,333 yuan/ton, the same as last week.
Analysis: The trading atmosphere in the cotton yarn spot market continues to be weak. The replenishment volume of downstream weaving companies is not as good as last year. The stock of cotton yarn continues to rise, and the cotton yarn market continues to run weakly. Upstream cotton prices fluctuated at a high level. On the 21st, the average price of China's cotton index 3128B grade was 21,921 yuan/ton, down 47 yuan/ton from the previous day. Costs were supported, but downstream demand remained sluggish. At a high level, the inventory of some weaving factories was maintained at about 40 days, and some factories cut prices and sold goods near the end of the year, but market sales were still weak.
Forecast: New Year's Day is approaching, and there is a high probability that the market will not be significantly positive. Textile companies have strong demand for early holidays. It is expected that cotton yarn will continue to operate at a weaker position in the future.
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