Recently, textile consumption has not been improved, yarn and cloth inventory has increased, funds have tightened up, pressure on enterprises to reduce prices and promotions, cotton yarn prices have continued to fall, and the price of polyester staple fiber has been significantly reduced due to the fall in upstream PTA prices.

Textile enterprises started to lower the rate, raw material procurement was weak, and domestic cotton prices fell slightly.

According to public figures, cotton production is expected to reach 7 million 380 thousand tons this year, an increase of 10.9% over the previous year.

According to common sense, cotton harvest is good news for cotton farmers, cotton enterprises and textile enterprises. However, in the cotton industry chain, strong wait-and-see sentiment is permeated.

Due to tight funds and the expected cotton prices will not rise substantially in the near future, enterprises are more cautious when purchasing cotton, and basically buy as much as they want.

When cotton prices are at a high level, some textile enterprises reduce the amount of pure cotton yarn and increase the amount of textile made of polyester cotton and chemical fiber in order to reduce financial pressure.

At present, the sale of polyester cotton has dropped sharply, and some enterprises have serious inventory.

Since October, textile enterprises have gradually increased their losses and ceased production, and the number of enterprises that have stopped production and restricted production has increased.