Apr'20 cotton yarn imports may move down

1. Imported cotton yarn arrivals to China assessment

Imported cotton yarn arrivals to China in Apr 2020 are estimated at 132kt, down 27.07% y-o-y and 27.47% m-o-m. Of the total arrivals, there was a large amount of cargos which had been ordered before Spring Festival, and a part of cargos which were delayed to deliver from Feb. The data above considered the breach of contracts. Without considering that, Apr arrivals would be 163kt, down 9.9% y-o-y and 10.44% m-o-m.