1. Domestic cotton price performance is firm
On May 27-31, 2019, the Sino-US trade friction deteriorated, and the downstream demand of the domestic cotton industry chain was weak. However, supported by the cost of cotton, domestic cotton prices were firm last weekend, showing a slight increase. The national cotton price B index representing the mainland standard grade lint sales was 14,581 yuan / ton, down 40 yuan / ton, down 0.27% on May 24; Zhengzhou cotton futures main contract settlement price was 13510 yuan / ton, up from May 24 35 yuan / ton, an increase of 0.26%.
2. International cotton prices continue to rise
According to the latest statistics of relevant institutions, India's domestic cotton production in 2018/19 was reduced and the overall quality was poor. The demand for medium and high quality cotton increased. Due to the increase in demand, international cotton prices continued to rise. The international cotton index (M) representing the average price of imported cotton in China's main port is 80.42 cents/lb. The price of RMB is 13299 yuan/ton under the 1% tariff, which is 287 yuan/ton higher than that on May 24. 2.21%.
