Cotton Price High Callback Textile Industry Slowdown
In recent years, domestic cotton market has been gradually callback at high level. In July 16th, the average price of standard grade cotton in the mainland was 18359 yuan / ton, down 5 yuan / ton compared with last week.
The price of combed cotton yarn in Shandong textile city is generally reduced by 500-600 yuan / ton, the price of combed cotton yarn is generally reduced by 300-400 yuan / ton, and the price of pure cotton grey cloth in Weifang has been reduced by 0.1-0.2 yuan / meter.
It is reported that Zhengzhou cotton futures contract settlement price of 18085 yuan / ton, down 65 yuan / ton, or 0.4%, compared with last week; Beijing's national cotton trading market electronic matching September contract average price 17441 yuan / ton, compared with last week fell 251 yuan / ton, or 1.4%; Hefei national cotton trading Center electronic matching paction September contract settlement price 17600 yuan / ton, compared with last week fell 230 yuan / ton, or 1.3%.
China's cotton reserve management company believes that the growth rate of textile industry has also slowed down, which is affected by the slowdown in the overall economic growth of the country. Production, consumption and price growth generally declined in June.
Downstream textile factory wait-and-see sentiment is strong, cotton yarn sales speed slowed down, stock began to increase, cotton yarn prices remained stable overall, some varieties declined relatively large.
According to the information provided by China cotton reserve management corporation, the cotton growing situation in main cotton areas in China is generally more normal and pests are less serious.
Among them, rainwater is moderate in most parts of the the Yellow River River Basin, which is conducive to cotton growth; heavy rain in the Yangtze River Basin and heavy flooding in some cotton fields; the northwest inland weather is suitable for cotton growth, and a few areas are affected.
As the new cotton market is approaching, the possibility of international cotton prices returning to rationality gradually increases.
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