On April 23rd, the benchmark price of cotton Lint at SunSirs was 15614.17 RMB/ton, an increase of 2.28% compared to the beginning of this month (15266.83 RMB/ton).

At present, there are strong expectations in the market for the decrease in cotton planting area in Xinjiang and the rush to harvest seed cotton in 2023/24 on the supply side, which still support cotton prices. New orders on the terminal have weakened, textile companies are stocking up on demand, raw material procurement is cautious, and finished product inventory is accumulating faster than last week, but overall it is still in a low position. The short-term external macro environment has a significant impact on the futures market, with spot prices slightly declining and cotton prices fluctuating. In the later stage, attention should be paid to cotton planting weather and downstream demand.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.