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Aug cotton yarn imports may decrease 13.57% m-o-m to 121kt
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Aug cotton yarn imports may decrease 13.57% m-o-m to 121kt

Views:0     Author:Site Editor     Publish Time: 2019-09-23      Origin:Site

1. Imported cotton yarn arrivals to China assessment



Cotton yarn imports to China in Aug are estimated at 121kt, down 31.16% y-o-y and 13.57% m-o-m. The y-o-y slump of cotton yarn imports in Aug was mainly due to the slackness in Jun-Jul and bearish expectations of traders to later market. On the other hand, Trump announced to impose additional tariffs on $300 billion Chinese imports on Aug 1, then ZCE cotton futures plummeted. In the meantime, RMB exchange rate changed from about 6.88 to over 7 and many contract breach were seen. Considering some Pakistani cotton yarn was not calculated into customs data, the cotton yarn imports shown by customs data may be smaller at 100.5kt.


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