News

The spot price of cotton in general have dropped

Author: adminReads: 1621

Cotton spot price continued to fall last weekend Shandong Weiqiao Textile down period of four cotton procurement price of 100 yuan. Suffered a strong earthquake and tsunami in Japan, will commodity prices bearish in the short term, today the two electronic disk substantial plumb, Zheng main cotton contract cf1109 opened 30,950 yuan / ton, midday closed at 29,690 yuan, below thirty thousand. Spot market fears began to spread, ginning factories and cotton merchants shipped further accelerate the pocket for safety and psychological enhancements. Cotton yarn prices continue to fall, the textile mill the bad mood procurement weakened. Chinese cotton price index (CCIndex328) 31098 yuan / ton, down 10 yuan, 527 cotton to plant an average price of 28,147 yuan / ton, down 18 yuan today.
14, Zheng cotton futures prices fell sharply, while market concerns about the country for further regulation of the prices of agricultural products, cotton purchasing companies reluctant sellers psychological somewhat loose, domestic cotton spot prices continue to fall. Weak demand for downstream textile orders weakness, upward pressure to ease the yarn inventory and return of funds to promote yarn sales become a recent major work, the majority of textile enterprises cautious, not to rush to purchase, even if the replenishment is also a small amount of the main .
Imported cotton in China main port quotation rebound, all varieties generally rose 3-4 cents. Cotton prices fluctuate significantly during the procurement of textile enterprises are very cautious and prudent procurement, in most cases, according to the order. Recent procurement requirements are gradually released, with the inventory of cotton consumption textile enterprises is still optimistic about the market outlook in general. Analysts believe that China's cotton imports in February significantly reduced, but the decrease in imports will be increasingly constrained by the available number of imports rather than actual demand, China's import demand steady stream of foreign cotton prices continue to be optimistic.