According to reports, on November 24, the international cotton price was $1.1113 per pound, reaching its lowest point since October 20. According to a report by US Business Week this morning, affected by China's macro-control, international cotton prices have fallen. The report said that as the world's largest cotton consumer and importer, China is stepping up efforts to curb speculation and cool inflation. "China's move has ended the sales spree of soybeans, rubber, and cotton."
Domestic cotton prices are also declining. Data published by the National Development and Reform Commission shows that since November 12, domestic bulk commodity prices have plummeted sharply, with cotton experiencing the largest drop at 23.6%.
The trading price of cotton futures for March delivery on the New York Intercontinental Exchange fell to $1.118 per pound, down 4.1 percentage points year-on-year. The Tokyo trading price was $1.1261, marking the largest weekly decline since February 2009.
● Industry Analysis
Clothing companies may sell winter coats earlier than usual. Previously, downstream clothing companies accumulated large quantities of fabric purchased at high prices, as well as garments made from such fabric, and raised terminal selling prices. Industry insiders believe that if cotton prices continue to fall, clothing companies will be forced to sell winter coats a month earlier than planned.
According to industry insiders, this year's cotton price has risen more than double compared to last year. As the effects of national regulatory policies gradually become evident and speculative funds continue to withdraw, further declines in cotton prices can be expected.