According to feedback from traders in the light textile market in Jiangsu, Zhejiang, Guangdong and other places, since early October, the shipments of imported combed yarn, imported siro spinning yarn, imported OE yarn and Indian/Vietnam compact spinning yarn have not only slowed down, but also the prices have become “flat.” “Dark decline”, especially the deviation in the performance of JC21-JC40S cotton yarn, coupled with the continued high level of cotton yarn shipments/arrivals from India, Pakistan, Uzbekistan, Indonesia (mainly T/C blended yarn) in September and October, so Some textile import and export companies and middlemen are under great pressure on shipments and capital flows.
Operators in Nantong, Shaoxing and other places said that due to the Mid-Autumn Festival and National Day holidays, some weaving factories, fabrics and clothing companies in coastal areas have a 3-5 day holiday, and the procurement of raw materials such as cotton yarn and blended yarn has basically been suspended after September 25. Post-holiday inquiry/stock replenishment is mostly postponed to mid-October, so demand has weakened significantly in the past week or so. Up to now, the effect of destocking cotton yarn in light textile markets such as Guangdong, Zhejiang, and Jiangsu has not been great. Public warehouses (including imported yarn) are still in a state of liquidation. Some traders have reported that they need to “account for inventory” weeks or even 12 months in advance. pit”. According to news from several import and export companies, in late September, some cloth mills and middlemen signed orders for open-end spinning from India/Vietnam/Thailand and other places, which have been shipped and shipped one after another. Therefore, it is expected that the port and light textile market will Cotton yarn inventory pressure will be greater.
Judging from the survey, domestic cotton spot prices in India, Pakistan and other countries have continued to decline since late September. The cost reduction has been passed on to cotton spinning, gray cloth and other links. Cotton yarn FOB/CNF quotations have been weak, which has put pressure on cotton yarn traders with relatively large inventories. , and put pressure on domestic cotton spinning mills. Industry analysis shows that the current total cotton yarn inventory in Guangdong, Jiangsu, Zhejiang, Shandong and other light textile markets may have exceeded 1.5 million tons (including imported yarn), and there is great pressure to destock in the short term.
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