Since futures prices fell, traders have been rushing to sell their stocks. The price has dropped from 23,500 yuan/ton (tax included) last week to 22,500 yuan/ton (tax included), but the shipment situation is still average. However, compared with the previous high price market, the shipment situation of whole cabinets is much better. Although the current price has basically returned to the same period last year, the market’s downward sentiment is still strong. The sell-off of domestic yarn in the knitting market has become more severe, and the price of imported knitting yarn has also fallen.
The external price of imported yarn fell with the price of US cotton futures. Small-scale transactions of 10-count Siro spinning of Pakistani yarn were realized at a price of 530-550 US dollars/400 pounds, which is approximately 22,600-23,400 yuan/ton (tax included). It was no longer available for a time. Inverted, there is even a small profit margin. However, the spot price was flat this week and inverted again. At present, there is basically no inventory in Pakistan, and factories are taking orders for production. From the Muslim Eid al-Adha festival last weekend to the resumption of work on Tuesday and Wednesday this week, factories are still hesitant and have not fully quoted prices. Despite the bleak market situation, the terminal is still actively purchasing Vietnamese recycled OE yarn, with a price of about 13,000-14,000 yuan/ton. This is also due to the large price difference between Sirotex and the profit-oriented tendency to purchase recycled OE yarn. The quotations of external ring spinning prices also fell day by day, and the wait-and-see sentiment was strong. Domestic high-count yarn continues to fall, and the market is mainly on the sidelines.
Generally speaking, most companies are waiting for the cotton market to stabilize and market confidence to return before preparing to purchase. At present, most companies believe that the market is still not optimistic.
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