cotton yarn market gradually steps into ice-cold territory

Closing to Chinese traditional New Year–Spring Festival (Feb 1), cotton yarn market gradually steps into ice-cold territory, seeing dipping price and paled transactions.

Since Nov, it has been highlighted that the significant time window is coming and it is suggested to focus on downstream orders. However, the supplement orders for autumn and winter, and those for spring and summer do not arrive as many as expected. On the contrary, due to the outbreak of COVID-19 pandemic in Dec, downstream demand got bloody-nosed and the market confidence was again depressed.