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2017 China Cotton & Yarn Futures Summit
2017-05-04

Following the sweeping success of 2016 China Cotton Futures Summit, CNCIC held the eighth annual meeting in Hangzhou last week, in cooperation with Zhengzhou Commodity Exchange and China Cotton and Textile Association.  

  

The 2017 China Cotton & Yarn Futures Summit which attracted 600 people from all industry segments discussed the strategies in a new stage of cotton /yarn futures and shared views on market situation. 

  

Most speakers at the meeting were bearish on market outlook and some expected price to stay range-bound. The clouds over Zhengzhou Cotton Futures remain thick for the time being. 

  

2017 is the third year of cotton destocking. Reserve stockpiles have dropped from 10 mil ton to around 7 mil. The rapid fall of cotton stock, coupled with a steep decline in domestic plantings, triggered a major rally in cotton price. Data shows that, despite a small increase in domestic cotton planting in 2017, the upward trend of cotton price remain unchanged.