Domestic Cotton Prices Try To Rise Slightly Lower Price

According to business data, as of September 24th, the average price of pure cotton yarn of 21S high quality knitted top quality goods in Shandong area was reported to be 20720 yuan / ton, down 1.52% from last month, down 13.67% from the same month last year. The average price of 32S high quality knitted cotton yarn is 21920 yuan / ton, down 1.44%, down 12.58% compared with the same period last year.

Entering the September, domestic cotton prices rose slightly. The first is that during the traditional textile peak season, orders are relatively warmer; two, the last month of the cotton reserves, the turnover rate and volume rose sharply, driving the spot up; then, the short-term surge of crude oil prices led to an active investment market and led cotton futures to rise, but the cooling rate was also rapid.

Data show that in 1-7 months, household textiles in China totaled 15 billion 210 million US dollars, an increase of 1.4% over the same period last year. But towels decreased significantly, with a drop of 13%. From the slight rebound in cotton prices and the rising price of yarn, the cotton textile market is facing challenges.

Business analysts believe cotton prices rebounded slightly and cotton yarn remained unmoved. Cotton yarn market is adhering to the same normal situation, and price reduction is helpless. The market is not optimistic about the future market, and the increase in output and the weakening of demand are still bruising.