Views:0 Author:Site Editor Publish Time: 2019-08-23 Origin:Site
With the significant imports of Brazilian cotton, bonded cotton inventory continues to be high. Among the spot cleared foreign cotton, Brazilian cotton is mainly sold by on-call terms. With the continual weakness of ZCE cotton futures since May, the on-call Brazilian cotton has obvious price edge. On Aug 6, Brazilian cotton prices were the cheapest among the all imported cotton, and its competitiveness enhances obviously.
Brazilian cotton output is expected to rise largely, while in the meantime, global cotton consumption continues to weaken, so the oversupplied situation of Brazilian cotton during the harvest period is more obvious, and there is still downward space for cotton prices later. However, the trade friction makes China cotton imports from Brazil increase evidently. Besides, the Brazilian cotton has obvious price edge among cleared foreign cotton. The market shares of Brazilian cotton in China are supposed to rise.