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China Sourcing Update: Prices of Natural Textile Materials (May 2017)

China Sourcing Update: Prices of Natural Textile Materials (May 2017)

Prices of Natural Textile Materials

1.       Cotton price indices rise in May

The price indices of cotton trended upward in May. The CC Index 3128B, for example, went up from 15,949 on 28 April to 16,078 on 25 May, the highest level since September 2014, before closing at 16,077 on 31 May (see exhibit 1).

According to the local media, the rise in domestic cotton prices was due largely to a tightened supply of cotton, in particular the high-grade supplies. Meanwhile, the downstream demand from textile manufacturers was soft with the approach of the offseason.

Going forward, we do not expect domestic cotton prices to go up further in the near future, as the prices of cotton futures in China have fallen markedly since late May, which is likely to put downward pressure on the spot prices of cotton.


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Content provided by Fung Business Intelligence
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