SunSirs: Inventory Increases, Downstream Demand Continues to Be Insufficient, and Cotton Yarn Is Running Weakly
March 22 2022 09:23:20 SunSirs (John)
Price trend
According to the data of SunSirs, the price of 32S cotton yarn on the 21st was 30,800 RMB/ton.
Analysis review
The cotton yarn futures market fluctuated and rose. The closing price on the 21st was 28,560 RMB/ton. The trading in the spot market was weak. Textile enterprises and traders continued to offer preferential shipments, and the inventory pressure increased. The new orders of downstream weaving enterprises were still insufficient.
At present, the textile markets in Shandong, Guangdong, Jiangsu, Zhejiang and other places are affected by control and logistics are not smooth or even in a semi-closed state. The upstream cotton market is still at a high level. The recent futures market has picked up, and the cotton textile raw material market has been at a high level. Coupled with the recent rise in crude oil and polyester raw materials, the profit of weaving mills has declined, and the confidence of manufacturers is weak.
Market outlook
The downstream demand continued to be weak, and the cotton yarn market was sorted at a high level.
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