Seed cotton acquisition is nearing completion and imported cotton offers fall

The picking and acquisition of seed cotton in various real estate cotton areas is nearing completion, and the 400-type enterprises start processing lint. Some companies stated that lint will be fully deposited in case of poor self-sales. The downstream textile market is sluggish. All cotton yarns have no market value and dealers are disheartened. In view of the oversupply of capacity in the textile industry last year, many spinners are bearish on the market outlook and limit production and production stoppages.

Import prices of imported cotton in China's main port fell sharply. Most varieties fell by about 2 cents. At present, there are still a lot of special offers for cotton traders, mainly port stocks and new cotton arrivals at the end of the year. From the actual situation, textile companies only moderately import when prices have fallen sharply, and it is difficult to enlarge the transaction volume. Foreign analysts said that in the context of falling downstream demand and a worrying economic outlook, global textile mills are trying to keep inventory down, rather than stepping up their purchases of raw materials.