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Spinners put fresh cotton purchases on hold

04
Jun '10
Cotton trades at the electronic exchange underwent volatility in recently days. Expectations are building up that the state will issue a national policy to regulate the flare-up in cotton prices.

As the state accelerates release of cotton import quotas, contradictions between domestic cotton supply and demand has weakened, due to which procurement attitude of textile mills has changed and now they hold strong wait-and-watch attitude.

The landing cost of imported cotton based on sliding tariff when converted stands at 17,000 Yuan / ton, the price which is much favored by textile enterprises and some textile enterprises have already used up their import quotas.

Mainstream yarn prices in domestic market are stable and firm, delivery situation is better. Prices of 32s knitting yarn are in the range of 27,000-27,500 Yuan / ton and that of 32s combed yarn is 30,500-31,000 Yuan / ton.

Trade volume of cotton yarn is stagnant and factory yarn warehouses are carrying high inventories, due to which spinning mills are not active in cotton procurement in current times and are waiting for prices to fall.

Fibre2fashion News Desk - China


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