US cotton surges, Vietnamese yarn forward quotations remain stable
After the surge in U.S. cotton, Vietnamese spinning companies reported that the current CIF CIF Chinese main port quotation for C32S in June is between US$2.92-2.95/kg (equivalent to a customs clearance cost of 24,000-24,200 yuan/ton at the port), and also expressed forward expectations. The contract signing, trading volume and price were not ideal. Some companies have reported that the sudden rise in US cotton and Zheng cotton has limited impact on yarn prices in the short term. Moreover, Chinese buyers have already resisted the current yarn prices, and price increases may lead to a sharp drop in transactions. If both US cotton and Zheng cotton can maintain their high levels, yarn prices may rise. US cotton surges, Vietnam yarn forward quotation remains stable
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