Domestic yarn prices and cotton spot prices maintained decline

The continuous decline in international cotton prices led to the lack of competitiveness of Chinese products, textile companies lacked confidence in the market outlook, and yarn prices and cotton spot prices maintained a downward trend. Some textile companies planned to take a holiday early in the Spring Festival and the overall market was still in a weak pattern. Heavy fog and rainy weather affected the deposits and the schedule slowed down.

The price of imported cotton in China's main port has risen steadily. US cotton, Australian cotton and Central Asia cotton have risen slightly. Egypt's long-staple cotton dropped sharply. Other varieties have stable prices. From the perspective of quotation, the lowest is still Indian cotton, only 90 cents, and the loading period is January next year. Cotton traders revealed that the textile mills that still have quotas in the near future are mainly purchasing low-cost American cotton and Indian cotton that are shipped in long-term. With the increase in the volume of foreign cotton to Hong Kong, there is still a tendency for foreign cotton prices to decline.

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