Views: 2 Author: Site Editor Publish Time: 2019-08-20 Origin: Site
Secondly, the supply of cotton yarn reduces as many spinners take holidays and cut production.
The demand for cotton yarn reduces, but the supply also reduces in the meantime.
Cotton yarn mills seize the chance to take high-temperature holidays and increasingly cut and suspend production amid weak market and continual losses, and lower operating rate to low level. Some cotton yarn mills would cut or suspend production rather than revise down prices to suffer greater losses.
As a whole, actual transactions of cotton yarn mills decrease compared with last week despite little changed offers. After Trump’s announcement, market players get more pessimistic to later market. They think the peak season in Sep and Oct may not come as expected and cotton yarn price is more likely to decline. In addition, cotton yarn mills may still focus on selling amid the high inventory, especially combed and high-count ones. Cotton yarn price is expected to have downward room.