cotton yarn market performed well in Jun and Jul but weakened in Aug

Aug was a transit from dull season to peak season traditionally. However, cotton yarn market performed well in Jun and Jul but weakened in Aug. It was mainly due to the macro factors and advanced downstream orders. Overall cotton yarn orders softened in Aug and market confidence was pressed. The operating rate of weavers plunged, both in Guangdong and Nantong, Jiangsu. The impacts were mainly from macro environment, downstream demand, pandemic and power restriction.