Cotton spot transactions are sparse and commercial inventories decrease slightly (February)
In February, affected by the new coronavirus epidemic, domestic cotton spot transactions basically stagnated. In the second half of the month, some textile companies started operations. The cotton used for production was mainly to digest the inventory from the year before, and the market transactions were sparse. Commercial inventories fell only slightly at the end of the month, and the decline was smaller than that of the previous month. According to survey data from the Cotton Logistics Branch of the China Cotton Association on 152 cotton delivery and supervision warehouses, social warehouses, bonded zone warehouses and processing enterprise warehouses in 18 provinces and cities across the country, at the end of February, the total national cotton commercial inventory was approximately 4.9726 million tons. A decrease of 39,300 tons, or 0.78%, from the previous month, and a decrease of 2.58% from the previous month. The inventory is still 407,400 tons higher than the same period last year.
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