Domestic cotton yarn price to head south in May

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Demand for cotton yarn warms up apparently during the traditional peak season Mar-Apr, and price of some conventional cotton yarns moves up, but trading price of medium-to-high count cotton yarn is largely stable although spinners intend to revise up offers.

As for market trend, although spot and futures cotton price is increasing, sales of cotton yarn are tolerable and supply of some conventional cotton yarn is tight in some plants, most market players still hold bearish view toward market outlook. Besides, downstream cotton grey fabric market has shown signals to weaken. Therefore, price of cotton yarn still has limited upward potential in Apr, especially carded 21S-40S and combed 32S with tight supply, but price may move down in May in anticipation of slacker demand and the start of cotton auction.

$1=CNY6.49

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