Cotton prices continue to fall slightly, and cotton prices are more likely to fluctuate downward

On the 26th, domestic cotton spot prices continued to decline slightly, and domestic and foreign cotton spreads have expanded to historical highs. As of the end of last week, the accumulated turnover of temporary storage has exceeded 3 million tons. This week was the last week of the temporary purchase and storage transaction. According to another source, more than one million tons of cotton are currently piled up in the Chinese port. According to analysts, after the end of purchasing and storage, once additional import quotas are issued, domestic cotton prices will be subject to greater shocks. Coupled with weak downstream consumption of domestic textile products, cotton prices are more likely to fluctuate.

Import prices of imported cotton in China's main port have not changed much, with only slight rises and falls in all varieties, and slight increases in Central Asia and West Africa. In the past week, domestic enterprises have remained highly concerned about cotton, but most of the imports are large-scale trading companies. There are not many purchases by cotton companies, and many require immediate shipments to Hong Kong. The actual demand is still dull. US cotton contracts Although shipping conditions are not bad, I am afraid that most cotton companies will ship to Hong Kong instead of actual sales.

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