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The area of u200bu200bcotton planted in Hubei has rebounded slightly, and the sales of textile enterprises have improved

by:Chengyi     2021-03-15
According to the information staff of the Hubei Office of the National Cotton Market Monitoring System from the Jianghan Plain, Eastern Hubei and other places, the area of u200bu200bcotton planted in Hubei has rebounded slightly. The local 400-type ginning factory has relatively few cotton stocks, and a few companies have cotton for sale, hoping to sell them at a good price.   Since mid-May, the cotton futures market has been extremely hot, with consecutive daily limits. With the start of the cotton market, the daily turnover rate of reserve cotton rounds remained at 100%, and bidding increases were fierce. Some textile companies in Hubei have adopted a cautious approach to purchase goods and strictly controlled procurement costs. Downstream yarn and grey cloth inventories have been reduced to a low level, and market demand is improving. However, the increase in yarn and cloth prices is much lower than the increase in cotton prices, and it will take time for cotton prices to be transmitted to downstream industries.   An industry insider analyzed that the market has been in an irrational state recently, leading to price distortions. Cotton prices are rising, textile companies and traders are hoarding stocks, and the tighter the cotton market, the higher the price. Article Keywords:   Hubei Cotton
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