In the global commodity markets and textile related areas, there have been many complex and interwoven dynamic changes recently. The strong rise of the US dollar has had a significant impact on the cotton market, and the price trend of ICE cotton and Zheng cotton has attracted much attention. The shipping market has also ushered in new waves, setting off a wave of price increases; At the same time, the United States has introduced safeguards for fine denser polyester staple fiber, and this series of changes is quietly reshaping the industry landscape.
Us dollar strength climbed ICE cotton and Zheng cotton both down
On November 21, Zheng cotton prices recovered slightly. Zheng cotton main contract closed at 13,975 yuan/ton, up 70 yuan/ton from the previous day, an increase of 0.5%.
The US dollar climbed strongly, the commodity market was under overall pressure, and ICE cotton and Zheng cotton both fell. The loose supply and demand pattern in the domestic and foreign markets continued, and the USDA supply and demand report in November lowered global cotton production and ending inventories, but the adjustment was small, and the US cotton export forecast was lowered, making the market's consumption forecast for the future poor. Although the Federal Reserve has opened the pace of interest rate cuts, there are still differences on the speed and rhythm of interest rate cuts, the downturn in demand has not significantly changed, and the global cotton supply and demand pattern is still expected to be loose, suppressing the space above international cotton prices.
Declaration: The content of this article is organized from the Internet, and the copyright belongs to the original author; If there is infringement, please inform in time and contact to delete.
The strong rise in the US dollar has had a significant impact on the cotton market
