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China Sourcing Update: Prices of Natural Textile Materials (Feb 2018)

Prices of Natural Textile Materials

1. Cotton price indices edge down in February

The price indices [1] of cotton dropped slightly in February. The CC Index 3128B, for example, inched down from 15,715 on 31 January to 15,685 on 28 February.

There was not much activity in the domestic cotton market during and around the Chinese New Year holidays, leading to stagnation of cotton prices in the month.

Going forward, the domestic supply of cotton is expected to remain abundant, as the Chinese government will sell its cotton reserves again from 12 March to the end of August. Nevertheless, high prices of cotton futures in the international markets are likely to lend support to domestic cotton prices in the near future. All in all, we believe that domestic cotton prices will hover around the current levels in the coming months.

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[1] The indices, compiled by the China Cotton Association, track cotton prices quoted from over two hundred textile enterprises. www.china-cotton.org

Content provided by Fung Business Intelligence
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