According to the data of SunSirs, the price of 32S cotton yarn in Shandong on the 24th was 26,575 RMB/ton, down 4.66% from the previous month.
Analysis review
The cotton yarn market has not changed much, the downstream has severely lowered the purchase price, and the goods have turned slightly better. Yarn enterprises mainly focused on destocking, and many places limited production and electricity due to high temperature and drought. Textile enterprises were not very motivated to purchase raw materials, and the overall market confidence was weak.
The upstream cotton market fluctuated widely, the downstream grey fabric market was weak, and the export orders were better than the domestic orders. It is approaching the time of centralized decentralization of autumn and winter orders, but the downstream orders have not improved significantly, and the demand recovery may be less than expected.
Market outlook
In the short term, the demand continues to be weak, and the new orders are not heavy. It is expected that the cotton yarn market will run to be weak.
