Cotton Yarn Weekly Report(Mar. 129th- Mar. 23rd)

The market price of cotton began to slide and the trading volume was not big this week. Along with the trading reserves into the countdown and the resources of seed cotton was scarce in the market, combined with lacking of confidence for the afternoon market and more and more enterprises chose to stop, which led the purchasing price of the seed cotton to decrease slightly in the individual regions. Along with the soft demands in the downstream industry, this made the sales of the textile enterprises difficult, the funding pressure increased and the purchase was not strong, which caused a certain pressure for the cotton. The average prices of 527 level cotton were 16,933 Yuan/ton, fell 2 Yuan compared to Mar. 19th, 328 level cotton was 19,538 Yuan/ton, fell 26 Yuan, and 229 level cotton was 20,886 Yuan/ton, which an decrease of 7 Yuan. It expects that the cotton prices will continue to slide slightly next week.

In the aspect of the downstream, the yarn market went weak on the whole. The trading volume of 100% cotton yarn changed little and the price of individual products still decreased, the prices of 100% polyester yarn moved down, the trading volume of T/R yarn was general, the prices of T/C yarn dropped, the polyester staple fiber fell, the prices of rayon spun yarn continued to slide, and viscose staple fiber kept stable. At present, the 32S price of 100% cotton yarn was 26,200 Yuan/ton, which was flat with Mar. 19th, 40S was 27,200 Yuan/ton, fell 100 Yuan/ton compared to Mar. 19th, the combed 32S was 29,700 Yuan/ton, fell 200 Yuan, and the combed 40S was 31,200 Yuan/ton, fell 100 Yuan/ton. It expects that the price of cotton yarn is dominated by weakness next week.