SunSirs: Cotton Yarn Prices Continued to Decline Due to Poor Sales
November 23 2022 11:34:21 SunSirs (John)
Price trend
According to the monitoring of SunSirs, the price of 32 pieces of cotton yarn in Shandong on the 22nd was 24,450 RMB/toon, down 19.92% year on year.
Analysis review
The cotton yarn market continued to operate at a low level, and the domestic and foreign sales orders were not ideal. Christmas orders were significantly reduced year on year, and the demand side was unlikely to improve. The cost end support was weak. On the 22nd, the average price of 3128B cotton was 15,107 RMB/toon, down 90 RMB/toon from the previous day. On the demand side, the grey fabric market continued to be weak, and the weaving factory's immediate profits fell into losses, with a slight decline in start-up. At the beginning of November, the production and sales rate of cloth was 97.2%, down 8.5 percentage points month on month. Textile enterprises were pessimistic about future market expectations.
Market outlook
As the epidemic situation continues in Shandong, Henan, Guangdong and other places, the current sales are blocked, and the cotton yarn inventory is increased, the cotton yarn price may continue to operate under pressure.
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