Cotton Mills Agreed That Cotton Prices Were Down 10.9% Last Year Compared With Last Year.

According to the price monitoring of business associations, the average price of 3128B grade lint in the domestic spot market was 14594 yuan / ton as of May 30, 2019, compared with 1037 yuan in early May, or 6.63% yuan, down 10.90% from the same period last year.

In May 30th, the 1909 contract of Zheng cotton main contract closed at 13460 yuan / ton, down 1960 yuan / ton compared with May 8th price.

In May 29th, the ICE cotton contract for July was 69.06 cents a pound, down 2.25 cents from May 8th.

According to statistics, in the first quarter, China's textile and clothing exports were 385 billion 210 million yuan, an increase of 3.3% over the same period last year.

Among them, textiles exports 183 billion 870 million yuan, an increase of 9.3%; clothing exports 201 billion 340 million yuan, down 1.6%.

The United States is China's largest textile and garment exporting country. The escalation of Sino US trade tariff war will directly increase the export cost of China's textile and clothing and weaken the price competitiveness of related products.

This situation will speed up the adjustment of China's textile and garment export structure and the pfer of industrial chain to Southeast Asia, and the market recovery will take time.

This week, Zheng cotton price rose slightly for 3 consecutive days, but the market had no obvious good news support.

On the 29 day, ICE cotton fell, and then Zheng cotton fell sharply on the 30 day and sped up a few days ago.

The price of cotton reserves has not fluctuated in recent days.

The price of lint spot market is higher than that of downstream. Textile mills and cotton traders can not reach a consensus.

The overall price of cotton yarn in Shandong area was reduced by 300-600 yuan / ton compared with the price in early May, the cotton price in the early stage continued to decline, the order of the cotton mill was insufficient, the cost of raw materials before purchase was higher, the price of cotton yarn was reduced greatly, the price was much higher, and the volume was large.

As inventory slowly digested, cotton prices fell down in late May.

Business analysts believe that the price of cotton reserves has gradually stabilized, and the decline in spot cotton prices has slowed down. The willingness of textile mills to purchase is not strong, and cotton producers are reluctant to go down in price, and the two sides are deadlocked.

The trade pattern was disrupted by the Sino US trade war, and the market confidence was insufficient.