The lowest cotton price in 2020 in nearly ten years

May 28, 2020  |  by Zhao xh


The recent recovery of U.S. exports, the increase in domestic downstream textile companies’ work load, and the slight improvement in overseas orders have helped cotton prices to rebound. However, it cannot be ignored that the current cotton price is still in the downward channel. Overall, the domestic cotton market is in a weak market this year.
Since this year, the domestic and foreign cotton prices have entered a downward channel. According to the monitoring data of OilChem China, as of May 22, the domestic cotton spot price (calculated as 3128B standard cotton) reached 11,950 yuan/ton, a decrease of 1,750 yuan/ton from the beginning of the year, a decrease of 12.77%; the cotton spot price reached a minimum of 11,000 yuan/ton on April 2, down 2,700 yuan/ton from the beginning of the year, a decrease of 19.71%. In the same period, the domestic and foreign cotton futures prices have shown a downward trend since the beginning of this year. As of May 22, the main domestic Zheng Mian is at around 11,600 yuan/ton, and the main U.S. cotton is at around 57 cents/lb.
 

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