[The current market is picking up, yarn sales are still weak]
Release date:[2020/7/8] A total of reading[65]time

The current market is picking up, yarn sales are still weak

According to the feedback from cotton traders and processing enterprises in Xinjiang, Henan, Shandong, Hubei and other places, the inquiry, transaction and export of Xinjiang cotton after the Dragon Boat Festival has improved to a certain extent compared with June, “Double 29” and “Double 30” etc. High-quality and high-quality warehouse receipts cotton trading also bottomed out.

On July 3, the quotation of cotton harvesting weight of Class 21 “Double 29” machine in the Xinjiang regulatory warehouse was 12450-12650 yuan/ton, and the quotation of cotton harvesting weight of Class 31 “Double 28” machine was 11900-12000 yuan/ton, which were all higher than the Dragon Boat Festival. Before the holiday, it is raised by 200-300 yuan/ton. And with the continuous rebound of ICE and Zheng Mian, the mentality of individual traders and ginners has also changed, and there is a phenomenon of reluctant to sell or intentionally greatly increase the quotation.

In the past week, the current domestic cotton prices have continued to rebound, but consumer prices and orders for grey fabrics, textiles and apparel have not improved. Some coastal spinning and weaving companies have implemented joint production limit and price guarantees. Cotton consumption demand has continued to fall, and the profitability of gauze factories has declined. To even hang upside down, some small and medium-sized spinning mills are unable to cope because they are "enemies in the belly". Textile companies in Yancheng, Xuzhou, Jiangsu and other places report that the demand for C32S and C40S high-end carded yarns in Guangdong, Jiangsu and Zhejiang markets has also slowed since late June, and orders for JC50S and above cotton yarns have not improved for 3 consecutive months, so the market expects In the middle and late July, the number of spinning companies that have reduced production, taken turns in vacation or even stopped production may continue to increase.

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