On June 19, according to China Cotton.com, since the beginning of June, the international spot market transactions have continued to flow steadily, and the transaction volume has increased during the price drop process. Libraries and buy as you use.
In the last 2-3 weeks, there has been no significant change in the basis of cotton merchants’ quotations and the actual transaction price. At present, large textile enterprises in Indonesia continue to operate at a low load, but due to the low inventory of raw materials, enterprise procurement has continued, while small enterprises have basically stopped production, waiting for the situation to improve.
Overall, Indonesia’s cotton consumption is still very low. According to the current operating rate, the annual cotton consumption is estimated to be only 420,000 tons. The forecast of the US Department of Agriculture for this year and the next year is 2.2 million bales and 2.6 million bales respectively.
In addition to Indonesia, downstream demand in India and Pakistan is weak, and yarn prices in China follow cotton prices to rise.
