China Yarn Market Daily(22 Nov 2010)

The sales of cotton yarn remained dull with decreasing prices and plants mainly held wait-and-see sentiment. The market prices of better high-grade cotton yarn 32s in Foshan were at about 40000yuan/mt and some offers were lower with limited transactions. The prices of cotton yarn for knitting in Zhejiang and Jiangsu were at 39000-40000yuan/mt with favorable enquires but few transactions.

Prices continued to decline and transactions remained dull. Traders were active to sell goods but downstream plants held wait-and-see sentiment and were reluctant to take offers.

Oversea cotton yarn prices tended to be stable at high level last week. Except transactions of Pakistan cotton yarn were rare due to the holiday, India cotton yarn prices kept stable with steady transactions. The prices of cotton yarn 20s were at 4.95dollars/kg, FOB, equal to 41000yuan/mt, after-tax, 2000yuan/mt lower than CIF or CNF prices of imported cotton yarn but still higher than the same grade cotton yarn prices in domestic market.

$1=CNY6.64

CY OE10....Cotton open end yarn 10S
CY C32.....Cotton carded yarn 32S
CY JC40....Cotton combed yarn 40S
CY T32.....Polyester yarn 32S
CY R30.....Rayon yarn 30S
CY T/C45...Polyester/Cotton yarn 45S (65:35)CY R30.....Rayon yarn 30S
CY T/C45...Polyester/Cotton yarn 45S (65:35)