Recently sufficient supplies of cotton from Xijiang, Gansu, and Shanxi provinces are pouring in at the Xi'an Market, Shanxi Province. Specialized warehouses in Xi'an are basically full, even the ones in nearby textile corporations are under process to store the new cotton.
Some of the local businessmen have gradually lost heart due to the late cotton market; they have decided to sell the product once they get at least a profit of 200-400 yuan from each ton.
The current sales of cotton in some parts of the textile corporations in Shanxi province has decreased, the return on investment became slower than the previous year. Large and medium sized cotton and textile corporations have stable production, but lesser sales, lower returns compared to previous period, the purchase of raw materials will exist along with the usage.
One third of the local textile corporations have stopped some of their operations due to slow return investment, tough sales.
Even though Christmas is just round the corner, purchases from abroad are not very strong. Therefore, the textile corporations who were supposed to have a breakthrough in sales in December would have hard days again.
Fibre2fashion News Desk - China
marketing@alchempro.com
