China Signed The Import Of American Cotton To Become A Big Buyer Of The Week.

With the increasing number of new cotton listed in the United States, the pressure on the external market will gradually appear. The pressure of harvest will continue to maintain the price advantage of cotton, especially the United States cotton, and it is estimated that a half of the import quota has not yet been used before the end of the year, so before the new cotton price is stabilized in China,

The purchase will continue to be biased towards imported cotton.

According to the statistics of the US Department of agriculture, China signed the import of 45 thousand tons of Upland Cotton in the United States in the week ending October 13th, which has increased significantly compared with the 13 thousand and 300 tons of the previous week, becoming the largest buyer in the week.

China has begun to import a lot of cotton? In fact, not only last week, so far this year, China has signed a total of 108 thousand tons of cotton imported from the United States, an increase of 343% over the same period last year.

The October industrial inventory report of the national cotton market monitoring system showed that in the first ten days of October, the average stock of cotton surveyed was about 36.8 days, an increase of 1.7 days compared with the same period, an increase of 7.3 days compared with the same period last year.

Reckoning down the whole country

Industrial stocks of about 769 thousand tons, an increase of 2.8%, an increase of 25.2% over the same period last year.

On Monday, the experts in various consultations with the information center also believe that the inventory level of textile mills has increased a lot more than last year.

Before the new cotton comes into the market, the raw material inventory of domestic textile enterprises can basically be used at the end of October, but with the approaching of the end of the month, the reserve cotton stocks of the textile industry have been consumed in large quantities, and the new standard cotton of Xinjiang at this time is new.

Up to 16200-16500 yuan / ton, far higher than the cost of cotton reserves, and in recent days, Xinjiang seed cotton purchase prices began to fall, before the new cotton prices stabilized, the textile enterprises have taken a wait-and-see attitude.

In contrast, the ICE futures market has not been up much since the end of the recent speculation in the futures market. The December contract is basically running below 70 cents. The overall performance is relatively stable. At present, the US EMOTSM class new flower price is only more than 14000 RMB. Domestic prices continue to rise and the prices of cotton remain stable, resulting in a continuous increase in the price of domestic and foreign cotton. The demand for short-term replenishment, the dominance of the cotton trade and the supply of the US cotton are sufficient to prompt the US cotton to make a lot of turnover.