The market awaits USDA’s November supply and demand report and holds certain predictions for lower US cotton production and a recovery in Chinese demand, but according to the current China market, The disease is still serious and overseas sales are also facing pressure, there is no high expectation of demand. Cotton yarn prices are lower and spinning mill operating rates continue to decline. Yarn inventory piled up a bit. Currently, spinners are mainly bought for urgent needs and lack of confidence. Spot cotton prices are also under pressure. While mainstream prices are stable, the lower offers are up somewhat… However, demand in Europe and the United States is weakening
In short, China cotton prices may be range-bound and in the medium term, prices are likely to be weak.
$1=CNY7.25