The International Cotton Price Has Risen To A Certain Extent.

In the past month, the price of international cotton has risen to a certain extent. The price of cotton fell below 60 cents at the end of September, and the market demand increased significantly. In December, the contract rose to 64 cents with the rainfall in the cotton producing area of the United States.

However, due to the fact that textile mills in various countries are trying to reduce raw material inventories, market demand has not increased continuously, and weather factors have been rapidly weakening, ICE futures have fallen back from high to the consolidation in recent weeks.

As of October 23rd,

In December, the contract returned to 62 cents.

At present, the new cotton harvest in the United States, Pakistan, India and China has entered the peak period. The supply pressure of the market has been increasing continuously, and cotton prices have been under a great downward pressure.

Although the quality of new cotton in China is not good enough, it may bring some sales opportunities to high-grade cotton, especially cotton, but the market demand is still very low. The export performance of US cotton is disappointing, and the spot market is hard to provide stronger support for cotton prices.

According to foreign businessmen, this month

Redistribution has been made, and some enquiries and purchases of foreign cotton have increased partly with import demand. The main concern is the few high-grade cotton in the bonded area. But overall, the market turnover is still very sporadic, just to meet immediate demand, and there are very few long-term purchases.

It is estimated that 1% of the tariff quotas have been used up to eight or nine. Under the condition of poor operation and unclear overall situation, the remaining quotas still need to be sped up.

China

The decline is reflected not only in the reduction of imports, but also in the volume of exports.

There is a phenomenon worthy of attention.

The US Department of agriculture raised its cotton export volume to 44 thousand tons in the October monthly report, which has remained at 11 thousand tons for a long time. At first glance, this adjustment is somewhat unusual. Where does the more than 30 thousand increase come from?

It is understood that the increased export volume comes from the bonded area.

As we all know, because of the decrease in quota, China's import demand has declined significantly, and the demand of neighboring countries and regions has increased.

Although this is not a true export, the United States Department of agriculture has counted this part of cotton as an export volume.

These cotton traders think that the cotton that can not enter the Chinese market has become a new official statement that USDA finds that consumption in China is decreasing.