the spot imported cotton yarn stocks of low costs were not left many after pre-holiday

At present, the spot imported cotton yarn stocks of low costs were not left many after pre-holiday replenishment of downstream fabric mills, as traders hardly placed orders amid more expensive forward imported cotton yarn since 2021 National Day holiday and cotton yarn imports in the fourth quarter of 2021 plummeted. Some Chinese cotton yarn also faced tight supply. During Spring Festival holiday, forward cotton yarn price soared and reached over 2,000yuan/mt higher than spot one. Adding less arrivals in Jan, the traders generally intend to adjust up the prices of imported cotton yarn, but it is hardly accepted by downstream fabric mills, so there are few transactions. Feb arrivals were mostly ordered in mid- to late Dec and it is predicted more than Jan one