On December 2, the average trading price of T229 lint cotton in Hubei Province was 14,800 yuan per ton, down 400 yuan compared to the previous week. The average price of T329 lint cotton was 14,600 yuan per ton. Merchants in the province are growing more confident regarding forward market prices for cotton and emphasize that the current decline in price is only temporary. With a good outlook on the forward market, they believe prices will steadily rise over the near term. Based on the current situation, prices are expected to rise to more than 15,000 yuan per ton for standard grade cotton over the near term.

Source: globecotnews