In the morning, Shandong Weiqiao reduces its cotton purchasing price further, by 500yuan/mt. Its purchasing price for grade 3 cotton is at 30800yuan/mt currently. Yesterday, the mill has cut its purchasing price by 200yuan/mt.

Affected by weaker ICE and ZCE cotton, plus the price cut of Shandong Weiqiao, cotton enterprises are confused about operation now. Although most people are still bullish and holing goods, some cotton enterprises have accelerated sales.

source:CCFGroup.com