Affected by the off-season in the European and American retail markets, many textile companies in Europe and the United States have suspended work and take vacations. In Asia, most factories are still operating at full capacity for recent orders, but demand performance is not ideal in the long term, which will affect confidence in the outlook for cotton yarn prices in the coming months.
After the Pakistani government decided to cancel the yarn export adjustment tax implemented in May, some cotton yarns in Pakistan have been adjusted downwards recently. Quotation based on FOB discount in RMB: C20s, 20,900 yuan/ton, a decrease of 1,100 yuan; C21s, 21,650 yuan/ton, a decrease of 1,150 yuan; C30s, 23,550 yuan/ton, a decrease of 1,450 yuan. The average quotation level is about 4,100 yuan/ton lower than the current domestic price. In addition, the quotations of Indonesian and Indian cotton yarns have been reduced, and the current reduction is not significant.