Spot Prices Continue To Weaken In The Yangtze River Basin

In October 29th, Hubei Huanggang seed cotton mainstream purchase price 2.70-2.90 yuan / jin (37-38%, moisture 14%), basically flat compared with yesterday, the daily acquisition of 100 thousand jin.

The head of the enterprise said that since the end of October, the progress of the purchase has obviously accelerated, and the quality of seed cotton has also been improved.

On the 29 day, the spot market in the Yangtze River Basin continued to weaken, including Yancheng, Dafeng, Jiangsu, Yancheng, and other spot quotations of 12500-12600 yuan / tons, more than yesterday.

At the moment, there are not many enterprises to start up formally, and the stocks in hand are few and far between.

"Only with production and sales, mainly sold to some small and medium-sized textile enterprises."

A person in charge of a company in Yancheng said.

"The goods were very slow and only 60 tons in 10 days."

On the same day, the head of a ginning factory in Yancheng said that since late October, most of Jiangsu, Zhejiang, Hubei and other places

Dispatched purchasing personnel to Xinjiang for procurement, and recently concluded pactions, but the general attitude towards real estate cotton is cold.

Some ginning plants sell cotton to textile enterprises for sale, but "goods go to the top of the land", or they sell at a loss or run in white.

It is understood that

Seed cotton in Jingzhou and other places

Mostly in 2.60-3.00 yuan / Jin, when compared with the beginning of mid September, it dropped slightly by 0.10 yuan / Jin, and the daily purchasing volume of enterprises was maintained at 5-10 Jin Jin.

"Hubei cotton is of high quality and low price, which plays an important role in the Yangtze River Basin.

"The boss of a ginning factory in Jingzhou said that the output was the top in several provinces such as Jiangsu, Hunan, Jiangxi and Anhui, but it is expected that the influence of Hubei cotton will be smaller and smaller after this year.

Anhui Anqing, Chizhou seed cotton to the factory price of 2.85-3.10 yuan / jin (lint 40%, moisture regain 12%), compared with yesterday, the daily purchasing amount of the enterprise is 3-5 Jin.

Anqing and Chizhou are important cotton growing areas in Anhui province.

A market source said that this year the Yangtze River Basin cotton industry wither is the most serious in the country.

The market expects that by the beginning of November, the seed cotton harvest in the Yangtze River Valley will be over. When the cotton seed seed cotton is sold or reached a small peak, the price of seed cotton will continue to descend under the influence of the downstream downturn.