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Insight | Time: Sep 30 2019 2:16PM
No bullish news in cotton linter market
 
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Cotton linter market was largely stable, despite minor decline in Sep and small deals were mainly concluded on need-only basis. New cotton procurement was generally delayed by more than one week this year and the purchasing price was much lower than the comparable 2018 level. Meanwhile, the arrival of new cottonseed also slowed down. Since the beginning of Sep, cottonseed gradually arrived in Hebei and Shandong and there was sporadic ones in South Xinjiang around mid-Sep with falling prices.

There were a few cotton linters arriving in Shandong around mid-Sep, but Hebei, Anhui and Xinjiang-based plants had not started running, so linters changed hands were generally imported and old ones. Most processing plants planned to start operation around National Day holiday, so the volume of cotton linter was expected to increase after the holiday. Thus, many plants now stood on the sidelines with prices stable to weaker.



By the end of Sep, cotton linter for staple-grade CLP prevailed at 2,700yuan/mt and low-quality imported one was below 2,000yuan/mt. Linter for industry-grade refined cotton was at 3,600-3,700yuan/mt, ex-works and that for food-grade was at 4,000yuan/mt outside of Xinjiang. The corresponding price in Xinjiang was respectively at 3,200yuan/mt and 3,500yuan/mt.

Cottonseed supply is increasing steadily while the operating rate of cottonseed oil plants is restrained around National Day holiday and cottonseed price falls evidently. Both cottonseed oil and delinting plants will raise the run rates after the holiday and cotton linter supply will increase, but downstream demand is hard to be boosted, so the price is still expected to be weak.
[RISK DISCLAIMER] All opinions, news, analysis, prices or other information contained on this report is provided by analyst of Zhejiang Huarui Information Consulting Co., Ltd (CCFGroup) as general market commentary and does not constitute investment advice. CCFGroup will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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