Views: 0 Author: Site Editor Publish Time: 2022-08-27 Origin: Site
Since the August of 2022, the global economic recession grows and the commodity price drops when it is expected to rise.
Up to August 18, the ICE contract price of cotton futures is usd $112.7 cents/pound, which increased by 16.7% compared with the end of July.
In August, the overall orders in textile industry don't grow much and the new cotton price is lower than expected, the domestic cotton price turns weak after grows with the global cotton price. The price gap between domestic cotton and global cotton reaches usd $922 per ton, which is the highest level since May 2011.
Due to the inflation, the cotton products consumption drops in America and Europe.
