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China: Cotton yarn traders purchase commodity after surge in prices

Cotton yarn mills have become more active in importing cotton after the price surge of the commodity and current cotton stocks likely to last a month or two. Restricted by capital, small-sized plants do not hoard too much of cotton. Currently, most spinners are running to losses so much so that some spinners are in plans to suspend production after current cotton stocks are used up and reopen after cotton grey fabric price follows up.

Actually, price of domestic cotton yarn has increased by around 1000-1500yuan/mt since last Wednesday with soaring cotton price. Offers for cotton yarn are mixed now and some plants are reluctant to make any kind of offer as transactions fail to chase up obviously. Some cotton yarn mills intend to or have already started to shut down with the thought that the current cotton price is too high.