MUMBAI (Commoditiescontrol) - According to the cotton inventory of the company under investigation and the amount of cotton used, as of May 31, the inventory of cotton stocks of textile enterprises was 790,100 tons, an increase of 91,800 tons from the end of last month, and up 66,000 tons from last year, of which: 5% Companies reduce their cotton stocks, 40% increase their inventory, and 55% remain unchanged.
Yarn production in China during the month of May rose by 2.02% compared with April, and increased by 0.78% year-on-year, of which the proportion of pure cotton yarn was 73.56%, which was an increase of 0.44 percentage points from the previous month; the proportion of blended yarn was 22.20%, which was a decrease from the previous month, according to survey conducted by China Cotton Early Warning Information System.
The survey targets cotton textile enterprises in Xinjiang, Shandong, Hebei, Henan, Jiangsu, Zhejiang, Hubei, Anhui, Jiangxi, Shanxi, Shaanxi, Hunan and other provinces and autonomous regions, it said.
Cloth production increased by 1.08% month-on-month, which was basically the same as the same period of last year, of which: cotton cloth accounted for an increase of 2.12 percentage points compared with the previous month. The yarn sales rate was 91.22%, an increase of 2.44 percentage points from the previous month.
The current yarn inventory of textile enterprises was 22.04 days, a decrease of 0.14 days compared with the previous month. The inventory of grey fabrics was 23.05 days, a decrease of 0.84 days compared with the previous month.
The survey finding revealed that the price of domestic cotton yarns rose, which was higher than the price increase of imported yarn cotton, driving the market price of pure cotton yarn.
According to the survey, the average monthly price of domestically produced 32 cotton yarns was 23,356 yuan/ton, up 262 yuan/ton from the previous month, or an increase of 1.14%, which was higher than the same period of last year (average price in May 2017 was 23,225 yuan/ton).
Aaverage monthly spot price of imported 32 pure cotton yarns was 23,406 yuan/ton, up 145 yuan/ton or 0.62% from the previous month, compared with the same period of last year (average price was 23,852 in May 2017).
At the end of the month, the spot price of imported yarn was lower than that of domestic yarn by 71 yuan/ton, and the price advantage of imported cotton yarn increased slightly.
(By Commoditiescontrol Buerau; +91-22-40015533)
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