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Cotton spinning enterprises in tight squeeze
08
Sep '09
As cotton supply in the market shrank before August, cotton price increased all the way this year, from 10,500 Yuan per ton from the beginning of the year to 13,000 Yuan per ton in April, due to which, cotton spinning enterprises are squeezed from both sides, as procurement costs are high but yarn prices are not firm.

Cotton spinning enterprises are facing a very difficult time, since the last few weeks. There about 1,000 cotton spinning factories in Cangnan County, Zhejiang Province, but nearly half of the factories have closed or suspended production due to higher cotton price driven by cotton shortage in the market and sluggish sales of their products.

For example, sales price of cotton yarn 14s count is 14,000 Yuan per ton, while price of cotton yarn 21s is 16,000 Yuan per ton, due to which these spinning units are able to generate only meager or no profits.

Cotton price of most commonly used cotton grade 328 is quoting at 13,000 Yuan per ton currently. Market supply and demand has stabilised after the state released additional 600,000 tons of cotton reserves.

Fibre2fashion News Desk - China

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