the Fed’s interest rate hike is the largest influencing factor. Most commodities have seen deeper decline in the past month. In futures market, the amplitude of rebar, iron ore and Shanghai copper with more sedimentary money has been respectively 16%, 26% and 15%. In addition to fundamentals, the Fed’s interest rate hike is the largest influencing factor. PSF and VSF If tracing back a little longer of the textile chain, the decline of cotton and PSF major contracts is respectively 25% (5,530yuan/mt) and 15% (1,374yuan/mt), while VSF has been rising by 1,090yuan/mt during the period. In fact, whether VSF price

The sales in cotton yarn market have gradually improved since August. In September, the sales of cotton yarn continued to accelerate and the inventory of cotton yarn mills reduced fast. In some areas, the prices rose. However, there were some problems in the market at the same time. 1. Domestic orders prevailed According to CCFGroup’s survey, downstream orders were mostly from domestic market for autumn and winter. Therefore, cotton yarn demand was mainly for varieties of 32 counts and count number below that, which led to tight supply and firm prices of carded 21/32S and open-end yarn in current market,