Cotton mill inventory pressure increases, domestic cotton price rises slightly
Cotton mill inventory pressure increases, domestic cotton price rises slightly
domestic market
Domestic cotton prices rose slightly, spot trading slightly better than yesterday
On June 30, Zheng cotton futures rose slightly. The settlement price of Zhengzhou cotton's main cf009 contract was 11710 yuan / ton, up 30%. China's cotton price index was 11866 yuan / ton, up 3 yuan.
Domestic cotton spot market lint price stable slightly up. The quotation of some enterprises increased slightly by 30-50 yuan / ton, and the transaction price of 3128b lint was 11860-11950 yuan / ton. At present, textile enterprises buy with use, and the volume of spot market is slightly better than yesterday.
It is understood that the price of lint sales to the factory in Hebei is stable today. Cotton enterprise sales quotation no change compared with yesterday. Xinjiang cotton point price transaction quantity is not much, real estate cotton has no transaction, and the market volume is small.
In Zhejiang Province, the spot to factory price of lint rose slightly today, with some enterprises' quotation rising by about 50 yuan / ton compared with yesterday, and the volume of spot market was relatively better than yesterday. At present, there are various rumors about the supply of reserve cotton. For reserve cotton, enterprises have polarization, some expect and some don't. Local textile enterprises hope to wait until a lower price transaction.
international market
Spot transaction nearly stagnated, no obvious adjustment of quotation
On June 29, ice cotton market fell and rose far. The settlement price of the main contract in December was 59.63 cents, up 13 points from the previous trading day. The price index of imported cotton was reduced under pressure, and the M-level price was 67.84 cents / pound, down 0.38 cents from the previous day.
Judging from the market quotation, there is no obvious adjustment on the whole. The overall basis trend of American cotton is relatively strong, and the recent M-level quotation for shipment is around 1100 points; Australian cotton and new cotton have arrived in Hong Kong, and the SM level quotation is maintained at a high level of 2250-2400 points; this year, Indian cotton continues to sell at a low price, i.e., the median price of M-class is unchanged at about 63.00 cents; the basis trend of Brazil cotton continues to be weak under the pressure of the market, and there is a further downward trend. At present, the M-level quotation is in the The New Zealand December contract premium is around 700.
The spot transaction is almost in a stagnant state, disturbed by recent rumors, the market generally has a strong wait-and-see situation, and is reluctant to purchase easily. According to the feedback from the market, the factory signed a contract for some long-term shipment of Australian cotton in order to produce just needed demand, and there was no other heard of a large number of transactions.
Yarn Market
With the increase of inventory pressure, the low count of conventional carding is better than the high count of combing
Today, the settlement price of cotton yarn futures in September closed at 19065, and the January contract rose 45 to 5820, with 8454 positions.
Today's yarn market is basically unchanged compared with yesterday's, and the increase of yarn mill's inventory also leads to increased pressure. The market quotation of pure cotton yarn in Xiaoshao area is stable, and the transaction is still light; market orders are still dominated by some autumn and winter seasons. The price of combed 32S pure cotton yarn is about 18600 yuan / ton, and the local price drop is about 50 yuan / ton; The price of combed 40s pure cotton yarn is about 21900 yuan / ton, and that of rotor spinning 10s pure cotton yarn is about 11800 yuan / ton, which is basically stable.
Industry information
1. According to the latest statistics of the Ministry of agriculture of India, the cotton planting area increased by 4.2912 million hectares in the week ending June 25, totaling 7.1692 million hectares. The cotton planting progress was about 1.65 times higher than that in the same period last year. In particular, the number of cotton farmers and the planting speed have been greatly improved due to the effective use of the heavy rainfall brought by the southwest monsoon this year in MaBang region. The northern and central regions were still dominated by dry weather at the end of last week.
2. In recent years, most of the main cotton producing areas in Pakistan have been hot and dry. The cotton planting work in the new year has been basically completed, and the growth of early sowing cotton plants in the south of Sindh province is good, and the cotton farmers are more satisfied. Thanks to good weather conditions, cotton plants in other cotton growing areas are also healthy. However, it has been reported recently that most cotton areas are infested with locusts. Cotton farmers will pay close attention to this month's and next month's locust infestation, and are worried about its long-term impact. In terms of production, it still maintained the same expectation as last year.
Domestic polyester yarn factory sales pressure is great, hope that the epidemic situation will pass soon.