Textile Market Is Weak &Nbsp; Cotton Prices Fall Again.
According to the American welfare Stone Company reported in November 7th, last week (October 31st -11 4), ICE
cotton
Futures failed to extend the previous week's rally, and the December contract closed at 98.74 cents / pound, down 563 points in November 4th.
The main reason is the optimism of cotton production in Asian countries and the continued downturn in textile demand in the lower reaches.
Recently, most of Pakistan and China
Cotton producing area
The harvesting work was accelerated.
As of November 4th, China's cotton harvest progress has been completed 82.5%, an increase of 2.9 percentage points over the same period last year, and cotton harvest progress in Pakistan continued to lead the same period last year.
Meanwhile, cotton imports in Thailand and Vietnam are not as good as expected. Data show that in September, Thailand's cotton import volume was only 19 thousand tons, down 42.3% from the same period last year, the lowest record in the past two and a half years.
In addition, the downstream situation of the global textile supply chain is also worrying.
Data show that in September, the import of Korean cotton yarn was the lowest level in nearly ten years. The output of Chinese cotton cloth decreased for the 6 consecutive month compared with the same period last year, and the decrease in the same month was 6%. The Australian clothing sales decreased by 8.1% compared with the same period last year.
All these data indicate the fact that the textile market is still weak.
In November 9th, the US Department of agriculture will release the November monthly report. It is expected that the global cotton supply and demand fundamentals may be further loosened.
Cotton price
It may continue to fall.
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