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Galaxy Futures: Rising Cotton Prices Triggering Skyrocketing Of Chemical Fiber

2010/11/10 14:33:00 59

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November 8th, ICE

Stage cotton

All contracts in this year were all closed, while contracts for next year were relatively weak. In December, the contract closed 146.23, up 400 points, and the rise in the US cotton market was mainly driven by the strong buying demand of Zheng cotton and China.

Today, the US Department of agriculture USDA will announce the latest global cotton production and sales data.

Market participants predict that cotton production and cotton production in China may be cut.

On the 9 day, Zheng cotton's wide range concussion eventually rose slightly, and the main contract was 1105 closed 33005, up 35 from the previous day's closing price.

The main contract position increased.

On the spot side, in November 9th, China's cotton price index (CCIndex328) was 28891 yuan / ton, up 733 yuan, and the average price of 429 cotton to plant was 28183 yuan / ton, up 545.

The average purchase price of the 3 grade seed cotton in the mainland is 6.99 yuan / kg, the cost of lint cotton is 30711 yuan / ton, the average purchase price of the 4 grade cotton is 6.78 yuan / Jin, the cost of folding cotton is 29701 yuan / ton, and the price of the purchase price continues to improve.

Cottonseed prices continue to rise, the current domestic average price is stable at 2.03 yuan / Jin, cotton seed in Shandong area is higher than 2.2 yuan / Jin, cotton lint price continues to rise, two fold national average price in 13332 yuan / ton, Shandong area in 14000-14200 yuan / ton, the higher price is 14400-14600 yuan / ton.

Today, at home

Polyester short line

Prices continued to skyrocket. The current domestic average price is 19500 yuan / ton, up 2500 from the previous five, and the spot price difference between polyester and cotton has narrowed to ten thousand, but it is still higher than the normal price range of 3000 yuan up and down.

At the same time, viscose staple fiber prices continue to rise, the current price has reached 29500 yuan / ton, and domestic spot cotton prices are basically flat.

Recently, the price of downstream yarn has risen substantially. The price of 32 cotton yarn has exceeded 40 thousand, the price of high count yarn has increased by six thousand, and 60 yarn has exceeded fifty thousand yuan.

Cotton prices have risen sharply in recent years, while Zheng cotton has already stood on 33000, because cotton prices have risen and downstream cotton yarn has been rising.

Substitute product

Viscose staple fiber and polyester staple fiber also surged. It is expected that the substitution effect of chemical fiber on cotton has begun to show.

Zheng cotton has short-term adjustment requirements, maintain high and volatile trend, and pay close attention to intra day short term trading opportunities.

At the end of October, the seven ministries and commissions issued by the national development and Reform Commission issued an urgent notice to combat the price rise in cotton market, which has a greater impact on psychology and concerns the next step of specific actions of the relevant departments.