Spot cotton prices differ much and small quantity of new cotton is transacted

On the first day returning from the holiday, machine-picked new cotton has been transacted, and small quantity of new cotton is transported to inland warehouses. Currently, spot cotton prices have big differences as new cotton prices are low with low costs, while old cotton prices are firm affected by the epidemic. The price spread between old and new cotton, between cotton in inland warehouse and cotton in Xinjiang warehouse is both large. Meanwhile, basis continues to rise and the price spread between Chinese and international cotton narrows.