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

Prices of Natural Textile Materials

1. Cotton price indices rise and then fall in March

After edging up in the first half of March, the price indices [1] of cotton declined during mid- to late March. The CC Index 3128B, for example, went up from 15,685 on 28 February to 15,723 on 12 March, and then fell to 15,546 on 30 March, the lowest level since November 2016.

High prices of cotton futures in the international markets supported domestic cotton prices during early to mid-March. Afterwards, an abundant domestic supply of cotton, coupled with the softening of the prices of cotton futures in the international markets, caused domestic cotton prices to drop in the second half of the month.

Going forward, the domestic supply of cotton is expected to remain abundant, as the Chinese government will continue to sell its cotton reserves till the end of August. Therefore, we believe that domestic cotton prices will decline further in the near future.

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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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