Refined cotton market jumps on continued rising price of cotton linter
Cotton linter price keeps hiking amid short availability during the transition period of supply when it is the later period of 2020/21 crop year. Refined cotton producers supported by cost become reluctant sellers at low prices and offers have risen significantly.
Old cottonseed and cotton linters have almost been consumed and the supply will be temporarily short before new arrival of cottonseed and cotton linter in Sep. Moreover, linters imported from India and Turkey are hard to meet downstream demand. Now most cottonseed oil and delinting plants have been shut and the operating rate is generally low due to cost pressure and limited resources. Cotton linter producers became reluctant sellers and quote firmly, pushing up the price greatly.
The continued rising price of cotton linter bolsters refined cotton cost and offers are gradually picked up in Xinjiang, Hebei and Shandong. Industry-grade refined cotton M1000 is offered around 13,000yuan/mt and food-grade one is offered at 13,500-13,600yuan/mt.
To sum up, cottonseed and cotton linter prices are hard to decline before new arrivals in Sep, which are expected to remain high. At the same time, refined cotton companies will maintain high offers underpinned by cost.
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