Cotton: India contract performance in the problem - cotton prices tumble
Textile information -
Textile net -
Textile integrated service provider
Influenced by ICE futures fell, just A month time, American cotton C/A, EMOT/MOT and SM Brazil cotton, cotton, SM Australian cotton spot CNF (SM west Africa
Quotations are cut 8.
10 cents per pound (
The higher the grade, quality index is good lint adjust slightly larger)
India cotton S -
June 1 -
5/32, J34, MCU5 CNF price falling space such as more than 10 cents/pound, larger than the cotton, cotton and other origin.
By ICE, India cotton spot a steep, one of the few international cotton traders said that since may require modification or cancellation of cotton procurement contract significantly increased the number of (
In addition to the Bangladesh, China, purchaser, Vietnam, Pakistan, Indonesia and other countries although mills signed a contract imports is not big, the proportion default, breach of promise is not low)
, leading to some cotton ginning mill, traders between Scylla and Charybdis, in a dilemma.
Industry analysis, on the one hand, with the sino-us trade talks collapse risk, to China, global cotton and cotton textiles, clothing and other consumer fears of a sharp fall rapidly rising, high-priced purchase contract execution problem;
On the other hand, the United States in 2019, India cotton planting area sharply growth expectations;
Plus 2019 Australian cotton and Brazil cotton booking in full swing, so buyers focus on 2018/19 for Indian cotton is declining.
In addition, although to S - a month
6 strength of callback aligning with American cotton, cotton and so on, but because of rising early overdraft, high, are slipping, plus the middle and later spend quality decline significantly, so the lack of competitive enough.