Outbreak Of Global Fermented Cotton Prices Fell Sharply

Zheng cotton's long decline has dragged down the cotton spot market. Recently, domestic cotton spot has continued to decline, and today's drop is more than 200 yuan / ton. China's cotton price index (CC Index3128B) was 13086 yuan / ton, down 237 yuan / ton compared with yesterday, down 403 yuan / ton compared with last Friday.

This week, new coronavirus spread throughout the world, and panic in commodity markets intensified. The US stock market fell off cliff, and ICE cotton continued to drop sharply. As of today, Zheng cotton main force CF005 down to 12180 yuan / ton, compared with last Friday's closing price of 13265 yuan / ton fell 1085 yuan / ton.

As of yesterday (26 and 27), the price difference between standard and domestic cotton at home and abroad has been over 800 yuan / ton for two consecutive days. If today is still over 800 yuan / ton, next Monday, Xinjiang cotton will probably stop temporarily until the price difference between inside and outside is reduced to 800 yuan / ton. At present, this is a big probability.

The domestic outbreak of epidemics has been successful, and no attempt has been made to regenerate "wolf smoke" in the world. However, there is a warning from the Chinese people to overcome the epidemic. We believe that countries will find ways to control the epidemic as soon as possible. In today's world integration, it is the right way for all countries to lose their common interests, unite together and depend on each other.