Stock Prices Of Cotton Mills In Various Countries Are Adequate, And International Cotton Prices Are Unable To Rebound.

Last week, the dollar strengthened and commodities. futures Overall weakness led to ICE futures running low. At present, the demand of cotton mills in various countries is still insufficient. At present, they are busy digesting inventory and hope that the cotton prices will remain at the current level next year. The US Department of agriculture raised global cotton inventories in 2019/20.

US cotton exports have declined for weeks. Most of the mills are stocking enough to replenish their inventory next year. In 2019/20, global production is expected to grow by 5.4% and consumption by only 2.4%. Under such circumstances, there is no reason for factories to rush to purchase raw cotton.

In addition, pure cotton yarns of some textile giants are also available. Blending Yarn demand is restrained, Chinese yarn prices continue to fall, and some factories are not receiving orders. The near future chemical fiber The drop in prices has put more pressure on cotton prices. The US Department of agriculture's latest forecast shows that the global end inventory has increased in 2019/20, and the inventory consumption ratio has increased from 60.1% to 61.67%. Therefore, there will be no reason for the rebound in cotton prices in the next few weeks.