Us: Drop In Spot Prices And Worries Among Cotton Traders
On the 6 th of January 31, 2020 -2, the average price of the seven standard market spots in the United States was 62.97 cents / pound, down 2.24 cents / pound from the previous week, down 5.71 cents / pound compared with the same period last year. In the week, seven major markets in the US traded 22305 bags, and the total turnover was 1238993 packages this year.
The spot prices in various parts of the United States declined, and foreign enquiries in Texas were light. China, Pakistan and Thailand had the best demand. Foreign enquiries in the western desert area and San Yue Jin area were light. Affected by the new crown pneumonia epidemic, some cotton merchants were cautiously optimistic about cotton market and the warehouse was busy loading cotton. The price of Pima cotton is stable, foreign enquiries are light, spot transactions are small, and demand in India, Pakistan and Turkey is the best.
During the week, the domestic textile mills had some enquiries for the shipment of grade 4 cotton in the 3 quarter and the 4 quarter. Most factory stocks remained in the 2 quarter, and the demand for ring spinning and air spinning was normal. US cotton exports are normal, but in the Spring Festival holidays in China, the Far East has all kinds of low price varieties.
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