Under the influence of macro inflation and continued consumption recovery expectations, commodity prices have surged after the Spring Festival, and the cotton textile industry is still in gradual recovery after the holiday. On Feb 25, Zhengzhou cotton futures market surged again, with the major contract, May contract, breaking through 17,000yuan/mt, then falling slightly. The price increase after the Spring Festival is mainly dominated by macro sentiment. For cotton textile industry, cotton prices also gain support from the small hedging resistance from supply side and favorable inventory status in downstream markets. The following table shows the increment of major cotton textile raw materials since the lowest in 2020 (the lowest point is based on Chinese cotton 3128 price):
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