SunSirs: The Demand Side Had Not Been Revealed Yet, and the Cotton Yarn Market Was Running under Pressure
September 02 2022 09:21:09 SunSirs (John)
Price trend
According to the data of SunSirs, the price of 32S cotton yarn in Shandong on the 1st was 26,250 RMB/ton, down 4.37% from the previous month..
Analysis review
The pure cotton yarn market did not change much, the trading atmosphere remained flat, yarn companies slowly destocked, and prices fell steadily.
The supply of upstream cotton was sufficient, and new cotton was about to be launched, increasing the pressure on the supply side. The operating rate of textile mills was still at a low level, the impact of Xinjiang cotton problem on demand was apparent, and domestic cotton was weak in the long-term cycle. The demand side had not improved significantly. Weaving mills just purchased on demand, and the transactions were mainly small orders and short orders. In the peak season of "Golden September", the market expects the consumer side to improve. At present, textile enterprises are in a strong wait-and-see mood.
Market outlook
In the short term, the cotton yarn market is under pressure due to insufficient orders.
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