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Chinese cotton buyers cancel US orders

Specialist cotton industry information resource Cotlook has said cautious predictions about the US crop has driven the price of cotton down.

It said a survey of planting intentions among farmers was one of the catalysts for the downward trend. Another was a high number of cancelled orders from Chinese buyers of US cotton, which it said is the result of the ongoing trade tensions between the two countries. Australia and Brazil have taken over from the US as the major suppliers of cotton to China this season.

More generally, Cotlook said mills have continued to complain of the difficult trading conditions that have been evident in the yarn market for some time.

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