From the United States department of agriculture data 2022/2023 annual production of cotton is low for years, but global cotton demand is weak, and the downturn in the us cotton export data lead to market transaction center of gravity concentration on the demand side. In the process of rebound after the cotton, American cotton exports contract data appeared periodic turn good situation, the purchasing in China greatly increased, but the last three weeks of data is weakening, become one of the important reasons for American cotton fell back.From the point of global cotton demand, the U.S. textile import from weakening, and the domestic clothing wholesaler inventory is already high for many years, overlay the U.S. recession expectations have increased, the weaker us demand or continue in the future. The export performance of countries such as Vietnam, India and Bangladesh, weakened dramatically since export orders since the third quarter, including Vietnam export textile clothing $2.702 billion in October, rose by 2.2%, reduce 0.8% month-on-month, August monthly export Vietnam before spinning clothing show increased significantly compared to the same state.
Although the price of cotton yarn from India and Pakistan has stabilized on the surface of some small traders, the price of cotton yarn from one to the other has been enhanced, while the cotton mills in Vietnam and Pakistan have experienced a strong rebound in ICE cotton futures, coupled with the recent drop in the US dollar index volatility, the depreciation pressure of currencies against the US dollar has been greatly eased, and the export cost of cotton yarn has risen, so the bargaining space for the US dollar price of outer yarn has been narrowed. As a result, after customs clearance, the price of inside and outside cotton yarn is more inverted than that in October, and the shipping pressure is also increased.
Post time: Dec-09-2022