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ICE cotton slumps to four-year low amid China tariff shock
ICE cotton futures fell to a four-year low after China announced a 34 per cent tariff on US imports, threatening demand from its largest buyer, which accounts for 25 per cent of US cotton exports. A stronger US dollar and falling crude oil prices added pressure. Market analysts cite worsening trade tensions and improved US crop outlook as key bearish factors. Other commodity markets also declined.
ICE cotton futures fell to a four-year low after China announced a 34 per cent tariff on US imports, threatening demand from its largest buyer, which accounts for 25 per cent of US cotton exports.
A stronger US dollar and falling crude oil prices added pressure.
Market analysts cite worsening trade tensions and improved US crop outlook as key bearish factors.
Other commodity markets also declined.
