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China Sourcing Update-Prices of Natural Textile Materials (Jul 2017)

Prices of Natural Textile Materials

1.       Cotton price indices drop slightly in July

The price indices of cotton trended slightly downward in July. The CC Index 3128B, for example, fell from 15,939 on 30 June to 15,888 on 31 July (see exhibit 1).

In our view, the main reasons for the soft cotton prices were market expectations of an increased global supply of cotton, and a weak downstream demand for cotton from domestic textile manufacturers.

Going forward, the global supply of cotton is expected to be abundant in the coming autumn harvest season. Meanwhile, the domestic downstream demand for cotton is likely to improve as the current off-season is about to end. All in all, we expect that domestic cotton prices will fluctuate around the current levels in the near term.

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Content provided by Fung Business Intelligence
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