Price: According to data from SunSirs, the price of 3128B lint cotton on the 23rd was 22,839 yuan/ton, an increase of 2.17% from the previous month.
Analysis: The average price of cotton index 3128B grade on the 23rd was 22,678 yuan/ton, down 5 yuan/ton from the previous day. Domestic cotton spot prices are stable and slightly declining. Currently, textile companies mainly purchase raw materials from reserve cotton and are not active in purchasing new cotton. In the short term, due to high costs, cotton prices are supported by high fluctuations. New cotton is released and reserve cotton is released, and the supply side is sufficient. The downstream cotton yarn market is weak, enterprises mainly purchase rigid demand, and inventory accumulation has reached a high level.
Forecast: Terminal demand is weak, textile raw material prices are generally downward, and cotton prices are expected to continue to fluctuate at high levels in the short term.
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