2024 Spring Festival holiday schedule of Vietnamese yarn mills

With the Spring Festival holiday approaching, Vietnamese yarn mills have largely confirmed their holiday schedules. Since January, Vietnamese yarn prices has continued to rise. Replenishment by traders is basically coming to an end, and the market is now in wait-and-see stance. CCFGroup has conducted a survey of some representative Vietnamese yarn mills, and the results are as follows:

Based on the sample, close to 60% of Vietnamese mills are starting their holidays from February 7th to 8th, which is relatively later compared to previous years. It is similar to the holiday schedule of Chinese cotton yarn mills. The majority of mills are scheduled to resume operations on February 17th, with 40% of them planning to reopen on that day.

From the perspective of the holiday period, the majority of Vietnamese mills have a holiday period of 9-10 days, with a significant proportion also having a holiday period of 7-8 days. In comparison, Chinese cotton yarn mills have longer holiday periods, mainly due to the need to verify the sustainability of downstream orders this year. As of now, CCFGroup have not received any information indicating that Vietnamese mills have chosen to work overtime instead of taking a holiday.