Trouble still looms for cotton consuming textile enterprises in China.
Despite the government lowering prices of cotton purchased for state reserves, the spread between domestic and imported cotton is still large.
Although China has adjusted domestic cotton price, the price is still at relatively high level. The spread between domestic cotton price and foreign cotton is still over 4000 Yuan / ton.
In the background of slide in orders from traditional markets of Europe and US, domestic textile companies are caught in a dilemma.
Many yarn producers are adjusting production according to orders received from domestic and overseas buyers. They are doing this mainly to avoid stockpiling of huge yarn inventories.
Fibre2fashion News Desk - China
| On 28th Jul 2021
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