According to the United Kingdom the Daily Telegraph reported this morning that European consumers may apply for China and other Asian countries rise of cotton prices, this summer to buy a new t-shirt, then have to spend more money.
This year's cotton demand is expected to be up 2.8%, but the world cotton stocks are declining. Last week, China cotton futures reached its highest level ever, the cotton price in the last two weeks to rise more than 7% cotton shortage is expected to run through the whole year.
Hongyuan futures analyst Wang said inventory shrinkage and severe weather such as Xinjiang snow leads to cotton supply reduction, such conditions may continue for the month of September this year.
Not only is Europe, with cotton prices continued fast rise, China's domestic textile enterprise of cost is significantly improved. If cotton rose again, and if businesses not to cut costs, consumers will spend more money.
No comments:
Post a Comment