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Spread between Chinese local & foreign cotton still high
29 May '12
1 min read
The spread between domestic cotton and imported cotton in the Chinese market is still large.
On May 28, China's domestic spot cotton market slightly declined further, while international cotton prices mostly fluctuated.
The spread between domestic cotton and foreign cotton is still in the range of 2,000-3,000 Yuan / ton.
Textile enterprises prefer imported cotton mainly due to the low prices, due to which import volume remains high. At the same time, sales of domestic cotton have slowed down.
Offers of imported cotton at China's main ports fell around 50 cents on May 28. The Chinese authorities have also released the much awaited cotton import quotas to a few textile enterprises.
On May 28, China's domestic spot cotton market slightly declined further, while international cotton prices mostly fluctuated.
The spread between domestic cotton and foreign cotton is still in the range of 2,000-3,000 Yuan / ton.
Textile enterprises prefer imported cotton mainly due to the low prices, due to which import volume remains high. At the same time, sales of domestic cotton have slowed down.
Offers of imported cotton at China's main ports fell around 50 cents on May 28. The Chinese authorities have also released the much awaited cotton import quotas to a few textile enterprises.
Fibre2fashion News Desk - China
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