Economic Observation: Affected By The Sudden Fall Of Cotton Futures At Home And Abroad, The Imported Yarn Market Is Pessimistic

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In the past two weeks, affected by the sharp fall of cotton futures at home and abroad, the imported yarn market was pessimistic. The spot market, which had been slightly warmer in the second half of June, was poured cold water,

Careful purchasing and stagnant sales. Some traders were forced to sell at reduced prices. The price of 10 pieces of siro spinning yarn of Pakistan yarn dropped from 25000 yuan / ton to 23500 yuan / ton (including tax). The market terminal was reluctant to accept, but there was still a pessimistic wait-and-see mood and did not dare to purchase in large quantities.

In terms of knitting market, the spot price of imported yarn was also reduced according to the market. 20 ordinary dyed yarns were reduced from 28800 yuan / ton (tax included) to 28000 yuan / ton (tax included). However, some terminals still received special price goods of about 27600 yuan / ton. It is estimated that due to the selling of some varieties of domestic yarn mills, traders are not confident enough.

The external price of imported yarn also fell with the cotton price, but the conduction speed was not as fast as that of the domestic market. The U.S. dollar quoted price of 10 pieces of Siro yarn is adjusted from 595 US dollars / 400 pounds to 580 US dollars / 400 pounds, about RMB 24500 yuan / ton (including tax), which is about 1000 yuan inverted with the domestic market. Generally, there is a heavy wait-and-see mood and no purchase intention.

The price of 32 baled and bleached yarns in Vietnam was also reduced, from about 4.2 US dollars / kg to 4.0 US dollars / kg, about 30600 yuan / ton (including tax), and some factories were adjusted to 3.75 US dollars / kg, about 28700 yuan / ton. Although the decrease is considerable, compared with the domestic price of 26000 yuan / ton, the internal and external price difference is still serious, reaching 2700-4600 yuan / ton. At present, traders are still waiting-and-see, but pay close attention to the market, ready to purchase.

On the whole, traders and terminals were a bit surprised by the cotton slump. The market situation originally planned to start was pressed the pause button. At present, there is a strong wait-and-see mood. However, if the cotton market stabilizes, the buyer may return to the market in mid July to purchase.