Textile Factories Gradually Start Operation, and the Price of Cotton Spot is in Chaos
Author: Feb 12, 2011 16:24
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At present, a part of textile factories gradually start operation. Several factories want to buy spot cotton, but because of the dramatic rise of foreign electric market quotation, the spot market was influenced dramatically and the quotation is in chaos. The seller is not many and the transaction is not active. The CCindex328 in Feb 11 is 29308 yuan/ton, which increased 469 yuan. The average price of 527-level cotton is 26702 yuan/ton, which increased 302 yuan.
Driving by the foreign cotton and electric market, the optimistic mood is obvious after the spring festival. The cotton corporation is reluctant to sell out and the enquiry of textile factories is increasing. The domestic cotton quotation is rise highly. At present, the textile factories start operation but are restricted by the capital and sales of finished goods, and the transaction is low.
The dramatic rise of the price of ICE futures drive the rise of cotton price, and most products increased 7 cents compared to the day before yesterday. The India cotton increased 3 cents and the Egypt long stapled cotton and American Pima cotton increased 13-14 cents. With the future price reach 200 cents which is smothery, the speculation of cotton market is crazier. Meanwhile, the increased price makes the contract performance difficult and the market focus on breaching of contract phenomenon again.
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Editor: leila From: 168Tex.com
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