Weekly Report: Cotton and Yarn (10/31-11/4)
Author: Nov 07, 2011 15:18
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168tex News: Cotton spot market trade price keeps downward. Weaving plants are generally cautious about procurement, and the overall turn over of the market is not large. Moreover, for the unginned cotton price went down, cotton farmers have panic mood. By Friday last week, China cotton price index (CCIndex328 grade)is 19301CNY/t, dropping by 116CNY/t, comparing with that in the early of last week. Currently, domestic fourth grade packet mainstream is offered at 18000-18300CNY/t, Southern Xinjiang open inspected 328 grade lint cotton is offered at 2000-20200CNY/t, while Northern Xinjiang open inspected is offered at 19800-20200CNY/t, pricing on quality. Now the slipping economic trend both at home and broad forced economies put forward policies to save the crisis. European banks have cut interest, America maintained a low interest rate, while China put forth policies to regulate. See from a short term, the outer environment has formed a kind of new impetuous to the bulk commodity. But see from cotton related industry chain, the leading cause that endangered the industry is due to over supply, and the shrank demand. The situation of over supply and low demand is hard to change. Therefore, under the background of a low demand, cotton market is not optimistic.
Yarn market last week is still depressed, with a dull sale. Among which, pure cotton yarn price in Shandong area has dropped by large. High-ticket yarn dropped by 300-500CNY/t, while carded yarn dropped by 500-1000CNY/t. Now 32S high-ticket self interlacing yarn is offered at 28000-28500CNY/t. Qianqing pure poly staple fiber yarn price further slumped. 32S mainstream has dropped down to 16200-16500CNY/t. Rayon yarn market is chilling, with its price slumped downward. 32S knitting yarn high class is negotiated around 21500CNY/t, while the inferior quality product is negotiated around 20500CNY/t. Machine weaving yarns price has broke 20000 CNY level. Now the following orders is deficient, so suppliers have worries on the aftermarket price.
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Editor: Candy From: 168Tex.com
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