As the market for fears of a recession, increased international stock market, commodity markets tumbled in succession, domestic cotton, PTA for textile raw materials of the futures price pressure drop, American cotton and futures price is broken down 100 cents for the price of/LBS.

In contrast, the spot market futures price trend by PTA although influence, but is still keep a slightly cut high of ten thousand yuan of above, spot prices higher than the futures price formation hangs upside down. Cotton spot price more strong performance, continue to rise steadily to 20000 yuan of pass, but the whole near textile business confidence still shows insufficient, procurement is not active. But another phenomenon is a concern cotton this year because time of import quotas, and subject to domestic and international MianJia MianJia strong fell sharply, the influence of the domestic buyers outside the enthusiasm of cotton procurement has improved.

Source "the Chinese textile nets"

Edit: lara