Main Chinese port prices of imported cotton fell, under the influence of ICE Futures on December 12.
The US Department of Agriculture has forecasted further drop in global cotton consumption in its December report, and once again confirmed downward trend in cotton demand.
Although China's cotton imports showed a surge year on year in November, China's cotton imports are down in the last few days. The long term prospects of China's cotton imports do not look optimistic, under the context of unpredictable sliding tax quota for next year.
Among cotton grade SM1-1/8", the US C/A cotton was quoted at 108.10 cents / lb, which is equivalent to 17,953 Yuan / ton (sliding duty), in terms of general trade delivery price at Chinese ports.
US E/MOT cotton was quoted at 101.20 cents / lb, which when converted under sliding duty stands at 16,852 Yuan / ton and E/MOTM1-3/32" was quoted at 98.50 cents / lb or 16,423 Yuan / ton.
Australian cotton was quoted at 114.10 cents / lb or 18,902 Yuan / ton, Uzbekistan cotton was quoted at 115.10 cents / lb or 19,048 Yuan / ton and West African cotton was quoted at 100.20 cents / lb or 16,703 Yuan / ton.
Fibre2fashion News Desk - China
20240830145952.gif)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
