SunSirs: Cotton Market: Paying Attention to the Seeding of New Cotton
May 06 2023 10:33:27On April 29th, the benchmark price of lint at SunSirs was 15766.50 RMB/ton, an increase of 3.27% compared to the beginning of this month (15266.83 RMB/ton).
The decline in planting area in the new year and the expected rush to harvest have led to a relatively strong overall performance of Zheng cotton prices. In terms of spot goods, the industry has entered the off-season, and textile companies' raw material procurement is slightly weak. Finished product inventory has slightly increased, and demand side support will gradually weaken. Cotton prices have limited room to rise, and are expected to show a mainly volatile trend. The short-term weather disturbance in the main production area has a great impact on market sentiment, paying attention to the seeding of new cotton and changes in the surrounding macro environment.
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