Monthly cotton consumption has significantly reduced, as more and more textile enterprises reduce or cut production. Price of imported cotton in China's main markets fell five cents on Mary 27.
The majority of textile SMEs are maintaining raw material inventory of about 15 days only.
In addition, in recent days, prices of imported cotton have dropped extensively, expanding the spread between domestic and foreign cotton. This is expected to exert even greater pressure, on domestic cotton consumption and imports, if cotton yarn imports increase.
Among SM1-1/8"grade cotton, the US C/A cotton was offered at 177.10 cents / lb and when converted, it stood at 29,641 Yuan / ton (calculated by sliding tax), in terms of trade delivery price at general port.
US E/MOT cotton was quoted at 173.67 cents / lb, and when converted, stood at 29,099 Yuan / ton, in terms of trade delivery price.
Australian cotton was quoted at 181.10 cents / lb, and conversion price was 30,306 Yuan / ton. Uzbekistan cotton was quoted at 179.10 cents / lb and when converted, it stood at 29,973 Yuan / ton.
West African cotton was quoted at 204.85 cents / lb and when converted it was 34,154 Yuan / ton.
Fibre2fashion News Desk - China
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