Sichuan's cotton spinning business increased its profits last year

“Last year's cotton price surge pushed the price of cotton yarn up. Last year, the profits of Sichuan's cotton textile companies increased by 150% year-on-year.” Yesterday, Zhou Yusheng, secretary general of the Sichuan Cotton Textile Industry Association, said in an interview with Chengdu Business Daily that recent cotton prices No major fluctuations will occur.

Zhou Yusheng said that there are 171 cotton textile enterprises above designated size in Sichuan. Last year, the sales volume of Sichuan's cotton textile industry reached 26.6 billion yuan, an increase of 51% year-on-year; the profit was 1 billion yuan, a year-on-year increase of 150%. 96% of Sichuan's cotton textile enterprises achieved profit last year.

"Now Sichuan's cotton spot price has risen to 29,000 yuan / ton, up 87% over the same period last year." Zhou Yusheng said that from the current situation, cotton prices will not be subject to significant fluctuations.

Chengdu Business Daily reporter learned that yesterday, Zheng cotton 1109 contract has exceeded 30,000 yuan / ton mark. In the spot market, on January 21st, China's cotton price index (328) was 27,901 yuan/ton.

A cotton analyst of Hongyuan ** said that the downstream situation of cotton spinning continued to improve. The demand for textile companies to supplement the storage before the Spring Festival and the better expectations of the cotton traders and textile companies after the Spring Festival made the cotton spot market a solid foundation.