On Thursday, at a low of more than a week, the broker said that yesterday's seven week high of yesterday's speculative sell-off was in full swing as investors rushed to sell it before next July's contract delivery.

The external market is down and the United States, Europe and China.

Weak manufacturing data from major consumer centres also hit the cotton market.

Intercontinental Exchange (ICE) spot month July cotton contract CTN2 down 5 cents, or 6%, at 78.17 cents a pound, 82.50 cents a day.

On Tuesday, the contract reached a limit of 5 cents, closing at 87.98 cents. Data show that this is the highest spot contract since May.

ICE-12 cotton contract CTZ2 fell 5 cents or 6.88%, closing at 67.71 cents per pound, 72.13 cents a day, the lowest settlement price for index month contract in June 5th.

Data showed that the turnover was close to 33000 hands on Thursday, about 1/3 higher than the 30 day average.

ICE Futures U.S. exchange data show that

The men cleared the July contract position, and the open positions on Wednesday July contracts plummeted 10952 to 6270.

Exchange data showed that turnover reached 42145 hands on Thursday, and turnover reached 55893 on Wednesday, the highest in June 11th.

As of June 20th, the open positions fell by five trading days to 169872, the lowest in January 30th, and a cumulative decrease of about 15%. in the past five trading days.