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Tight Supply And Demand Still Makes Cotton Prices Steady.

2011/2/16 16:27:00 39

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Short term cotton market fundamentals continue to show a good momentum, but the relevant agencies have expected that the latter planting area is expected to increase and downstream textile enterprises are also facing the pressure of labor cost growth, so cotton prices are still rising, but the high risk is also strengthened, but overall, supply and demand continued to tight, still make the cotton prices rise firmly.

By some speculators in the market to absorb the boost, ICE

American cotton

Futures in the agricultural market as a whole are weakening, and analysts believe that China's cotton price is strong. One of the factors is that China's cotton price is strong. The global supply is scarce and demand is steady. Cotton prices are still expected to rise in the late stage. Basically, as of February 13th, the domestic cotton arrival volume in India's spot market was 21 million 500 thousand packs, an increase of 5.9% over the same period last year.

A key official in the country expects that India's cotton output will reach 32 million 900 thousand bales in 2010/11.

According to local media reports, the news of India's cotton export quota increase was negated. The Committee of the relevant ministries and commissions still maintained 5 million 500 thousand packages of export quota temporarily.

As a result, the purchasing points of the international market are again focused on the United States cotton.

It is understood that after the festival, textile enterprises in the domestic market have begun to resume work, but due to the larger price gap at present, cotton purchase and sale enquiries are numerous, but they still remain on the sidelines, and there are few pactions in the market.

In the meantime, the market of polyester and viscose instead of cotton raw materials is booming.

According to the relevant data released in January by the National Bureau of statistics, China's textile and clothing exports increased by 4 over the same period in January, and cotton imports nearly 400 thousand tons. The above two sets of data reflect the basic situation of the current domestic cotton textile industry's booming supply and demand.

15, China Customs released data show that China January

Imported cotton

392000 tons, an increase of 31% over the same period last year, and a decrease of 69000 tons compared with December last year, a decrease of 15% compared with the same period last year.

In January, China's textile and clothing exports grew well, with clothing exports of US $13 billion 380 million, an increase of 33.6%, and textile exports of US $8 billion 240 million, an increase of 47.5%.

On the same day, China Cotton Information Network released data show that China's cotton production in 2010 is expected to be 6 million 330 thousand tons, which is 7.6% lower than that in 2009.

This figure is higher than the estimated 6 million 200 thousand tons by the Ministry of agriculture, but lower than the latest estimate of 6 million 650 thousand tons by the China Cotton Association.

At the end of this month, China's Bureau of statistics will also publish data on cotton production.

Related data collection: in February 15th, China's cotton price index (CC Index328 level) was 29762 yuan / ton, up 47 yuan from the previous day; the CC Index229 level was 30714 yuan / ton, up 79 yuan / ton compared with the previous day.

In February 15th, the price of C/A cotton in the United States was 218.80 cents / pound, equivalent to 36758 yuan / ton of general port trade delivery price.

Australia cotton quotation is 221.80 cents / pound, equivalent to RMB general port trade pick up price 37260 yuan / ton.

Uzbekistan cotton quotation is 233.60 cents / pound, equivalent to RMB general port delivery price 39193 yuan / ton.

The price of West Africa cotton is 221.10 cents / pound, equivalent to RMB 37143 yuan per ton port trade.

According to China's Skynet, on the 16~19 day, affected by the cold and warm air, there will be a small to moderate rain (snow) or snowy weather in the central and eastern parts of the northwest part of the Tibet, the central and northern parts of the southwest China, the eastern part of Jiangnan, the Jianghuai region, the Jiangnan and Southern China areas. Among them, some parts of southwestern Tibet and southeastern parts of the Northwest China have moderate to heavy snow, and some areas in southeastern Tibet, northwest Yunnan and Central South China have heavy rain.

To sum up, the January data show that China's textile exports have maintained rapid growth.

Imported cotton

The increase reflects the basic situation of the domestic cotton textile industry's booming supply and demand.

Due to the scarcity of high-grade cotton, domestic spot prices continued to rise slightly after the festival, but due to the larger price spreads, cotton purchase and sale enquiries were numerous, but they remained on the sidelines.

Analyst Zhai Naigang pointed out that short-term cotton market fundamentals continue to present a good momentum, but the relevant agencies have expected that the latter planting area is expected to increase and downstream textile enterprises are also facing the pressure of labor cost growth, so cotton prices are still rising, but the high risk is also strengthened.