Early collapse of MA0605 has further damaged the physical price. Spinners are currently in a panic emotion and such a deep fall was simply out of their expectation.
A cotton trader just sold T229 and T328 at 14500 and 14300 this morning with cash payment. This is already 200-300 yuan lower than prior business. It is said that traders are making every effort to sell the stocks even if there is only a small profit. Some traders already quote T129 100 yuan lower in Shandong province.
