A large number of new cotton listed, demand less than expected, domestic and foreign cotton prices fell slightly
In October, China imported 288,000 tons of cotton, an increase of 22% month-on-month and 122% year-on-year. China and the United States still ranked first in cotton imports, accounting for 37%; Brazil came in second with 27.5%; Australia was third with 15.8 per cent. The average import price was US $2,080 per tonne, down 32.3 per cent year-on-year and 0.5 per cent quarter-on-quarter. From January to October, China imported 1.385 million tons of cotton, down 12.7% year on year; The average import price was US $2,170 / ton, down 18.7%.
Chemical fiber imports rose and fell, imports rose 44.2% in October, and the average import price fell 14.1%. Imports fell 3.1% in the first nine months, and import prices fell 8.4%.
According to the information released by the China Cotton Association, the recent domestic cotton market supply is sufficient, and cotton prices at home and abroad have fallen slightly. A large number of new cotton listed, reserve cotton continued to sell, a large number of imported cotton to Hong Kong, domestic cotton supply is loose, but downstream consumption is weak, cotton prices rose first and then fell. Internationally, under the influence of the US cotton production reduction speculation, the slow signing of exports, the Palestinian-Israeli conflict and other factors, the market risk aversion is high, cotton prices are under pressure, and the difference between domestic and foreign cotton prices is slightly expanded. China cotton Price Index (CCIndex3128B) monthly average price of 17,931 yuan/ton, down 313 yuan month on month, up 11%. During the same period, the average monthly price of Cotlook A index was 95.6 cents/pound, down 2.4 cents/pound from the previous month, down 4.1% year-on-year, and the 1% tariff price was 16,835 yuan/ton, lower than the domestic cotton price of 1,096 yuan, an expansion of 165 yuan from the previous month.
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A large number of new cotton listed demand is less than expected
