Weekly Report: Cotton Yarn (Mar. 12th- Mar. 16th)

It was no affected by cancelling on India’s cotton exports ban, and the cotton spot price continued to maintain a modest rise this week. The current cotton stocks of textile enterprise generally tent to low, but the quotas of imported cotton were difficult to obtain, which formed a certain support for the domestic spot market. Although the transaction was not active, the price was relatively strong. The average prices of 527 level cotton were 16,949 Yuan/ton, up 8 Yuan compared to Mar. 12th, 328 level cotton was 19,572 Yuan/ton, fell 4 Yuan, and 229 level cotton was 20,902 Yuan/ton, which an increase of 9 Yuan. It expects the cotton prices will continue to remain stable afternoon session.

In the aspect of the downstream, the price of 100% cotton yarn was still weak this week, and the see-empty mood increased. The sales of 32S and J40S rose slightly, but other specification was soft. The price of T/R and T/C yarn continued to fall while maintaining the stability and the sales volume changed little. In addition, the price of 100% polyester yarn cut down, the rayon yarn was cold and the price trends fell again, and the price of viscose staple fiber declined. It was affected by the shortage of orders, difficult sales and the slowly re-steaming fund, so that the purchase was sluggish and the pressure was great in the cotton enterprises. At present, the 32S price of 100% cotton yarn was 26,300 Yuan/ton, fell 100 Yuan/ton compared to Mar. 12th, 40S was 27,400 Yuan/ton, the combed 32S was 29,900 Yuan/ton, fell 100 Yuan, and the combed 40S was 31,300 Yuan/ton, fell 100 Yuan/ton. It expects that the price of cotton yarn also will be falling trends next week.