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International cotton prices gained sufficient momentum - stabilizing long-term rise Textile information - Textile net - Textile integrated service provider

by:Chengyi     2020-06-22
Last week, On June 25 - On July 1) , international cotton prices fall further, given the severe drought in Texas, cotton continued strong market demand for the next fiscal year, and yield less than expected, factors such as expected the next international cotton prices will stop falling. Last week, the Indian rupee weakened and trade friction between China and the United States tariffs and other unfavorable factors, China increase demand for cotton in India, India cotton prices continue to rise. According to statistics, over the past week, the ICE futures contract price down by 1 December. 38 cents per pound fell, fell by 1. Down 6%, compared with four weeks ago level 9. 1%. Relatively speaking, the spot market price fluctuation is lesser, Cotlook A index in four weeks down only 7. 4%, at 90 - at present 95 cents/pound range. Market analysis, long-term perspective, the international market of cotton prices will be supported by the following several factors: the us cotton planting area of 2018 will be increased, but lower than the previous expectations, Texas suffered a drought for a long time, the market may find some support, the price could be stable at present levels; China announced a new 25% tariff on imports from the United States cotton has been digested, the news of the strong demand in other countries could maintain the price at last week, a relatively high level; Depreciation or the competitiveness of the restrictions on foreign cotton in the Chinese market, is conducive to China's domestic cotton and inventory consumption; Chinese buyers of American cotton cancel order to India, and with the rupee fell to record lows, cotton prices continue to fall, in dollar terms of India and Indian cotton prices are on the rise in the rupee terms. At present, the Pakistan cotton prices remained stable, is expected in the next few weeks, the first batch of the crop will be listed in Pakistan.
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