Cotton Futures Prices Drop, Textile Enterprises Look For Procurement

At the beginning of March 28th, the price of the 1905 contract of zhengmian futures fell all the way, and the settlement price fell to 15075 yuan / ton.

It is understood that today, a trader has just concluded the northern Xinjiang double 29 grades of warehouse cotton quotes at 15500-15700 yuan / ton (public weight), but the volume is not large.

The purchase of cotton enterprises is prudent, and there is no mass purchase behavior.

At present, it is at the stage of short-term centralized replenishment of textile mills. According to a trader's feedback, the enterprises in the inner bank, Northern Xinjiang double 28 grade and South Xinjiang strong 28cN/dtex length 27mm or so cotton are more sought after, the spot average price is 15400-15500 yuan / ton (public weight), the bargaining space is small, the general turnover is mostly purchased by the 3 batch, which is mainly for the convenience of highway pportation.

The majority of Xinjiang cotton with double 29 level or more is in the futures delivery warehouse, and the spot price is hard to shake at an average of 15700 yuan / ton (weight). Moreover, Xinjiang ginning factory does not plan to cut down cotton with better sales targets.