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Since June, prices for 100% cotton yarn have seen an overall decline in Jiangsu Shengze market. 32s and 40s are quoted at 19,000 MB/ton and 20,500 RMB/ton, down 100 RMB from the end of May.
The main reasons for lower price are due to the fact that textile market is in its transitional period with very limited demand from the downstream sectors. Another reason is that many spinners move stock directly to the weavers, which caused the yarn traders’ market environment to deteriorate. To battle for sales, cotton traders are forced to slash prices. These spinners, according to local resources, are using imported cotton that provides a much lower production cost. Therefore, they are not seriously affected by the decline of yarn prices.
