Reserve cotton continues to be sought after by some cotton companies to acquire seed cotton

November 21, 2023

Today, there was a slight increase in electronic trading and Zheng cotton turbulence adjustment. The spot price dropped steadily and cotton merchants shipped more, but sales were slower and transactions were scarce. Most of the current purchases are small and medium-sized textile mills, which are still mainly based on the continued purchase of reserve cotton. In the past two days, the reserve cotton auction price has declined somewhat. Some cotton traders expect that the reserve cotton auction price will drop significantly by the end of this month, and more stream shooting may be possible by the end of September. The enthusiasm of the textile enterprises gradually declined, and the small-sized textile enterprises maintained the use and purchase. Some cotton companies in Hubei, Xinjiang, and Shanxi have already begun preparations for the acquisition of seed cotton in the new year and they plan to open the balance by the end of August. On the 18th, China's cotton price index (CCIndex328) was 18,139 tons, down 2,429 cotton to the average price of 17,722 yuan/ton, down 1.

Domestic cotton prices continue to maintain steady and strong trend. As of yesterday, the average price of thrown storage transactions fell for three consecutive trading days, and textile companies rationally took part in the auction, and the role of maintaining the stable operation of the cotton market was increasingly evident. At present, the spot market inquiry has slightly increased, but the transaction is still insufficient. On the downstream side, despite the reduction in the price of gauze by textile companies, orders were still tight and the inventory of finished products increased.

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Mr. Yang

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