Cotton Comment: ICE Cotton Limit &Nbsp; May Crash.
On Thursday (10.14), the ICE Intercontinental Exchange cotton in New York on the 5 trading day, the third time limit, climbed 15 years later, the market continued to rise rapidly, analysts said that the price rose too fast, and may crash at any time.
This month China needs to support the market. China is the biggest cotton producing country and consumer country in the world. China had heavy rain earlier this year, and cotton producers were damaged. China needed to import cotton to make up for its losses.
But analysts say they can only buy high priced cotton before textile mills turn to cheaper man-made fibers or slow down procurement progress.
The low volume on Thursday showed that there was a shortage of sellers in the market, and the market was worried that the rise in cotton prices would eventually reduce the profits of textile mills and cotton traders.
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