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Confidence In Textile Materials Market Needs To Be Restored

2011/5/20 9:10:00 63

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Superior logistics conditions are the powerful driving force for the development of industrial chains.

The Zhangjiagang free trade zone was approved by the State Council in 1992 10, with a planned area of 4.1 square kilometers. In August 2004, the Zhangjiagang bonded logistics park was established by the State Council. It is a supporting logistics area of Zhangjiagang Free Trade Zone, enjoying the relevant policies of the bonded area and the export processing zone.

In 2010, the spot market turnover of the park chemical market was 30 billion 200 million yuan, the tax revenue was 220 million yuan, the textile raw material market turnover was 18 billion 800 million yuan, and the tax revenue was 130 million yuan.

Zhangjiagang imports nearly 300 thousand tons of cotton annually. It is the most concentrated port in the Yangtze River Delta.

Import PTA

Close to 1 million tons, accounting for about 18% of the country's total, its market size is very few in the industry. Zhangjiagang's PTA delivery warehouse occupies two seats in seven of the country.

Besides the domestic products, textile materials also need to be imported, and the export of products is relatively large. Therefore, the logistics convenience and the support of the bonded area policy make the textile market in Zhangjiagang develop more mature.

Raw material cost

It is the core influencing factor of enterprise management.

In the survey, a number of enterprise representatives mentioned that the technical content of textile enterprises is relatively low, and management and sales problems are not large. The key to the operation of enterprises lies in raw materials.

Take polyester enterprises, raw material procurement costs accounted for more than 90% of the product value, especially PTA cost accounted for a very high proportion, PTA procurement cost advantage accounted for more than 70% of corporate profits.

At present,

polyester

The weak bargaining power of enterprises is a practical problem that puzzles chemical fiber enterprises. PTA manufacturers are more powerful. In this year's falling market, the settlement price is higher than the spot price, and the profit is repatriated to PTA manufacturers.

With the subsequent launch of PTA's new capacity, the supply of PTA will be more abundant, and the settlement price will gradually return to reason.

Huaxi Village (8.18, -0.02, -0.24%) has an aggregate capacity of about 300 thousand tons / year, and PTA month usage is about 25 thousand tons, mainly based on contract goods. Its utilization of PTA futures hedging has achieved good results. According to the introduction, the price of 12000 yuan / ton in the enterprise will gradually establish a hedging position for raw material inventory.

Tightening macroeconomic policy and increasing pressure on SMEs

With the high price of real estate and CPI index, China has started another round of monetary tightening policy, which has brought greater financial pressure to the textile industry, especially small and medium-sized enterprises.

After the Spring Festival, the prices of raw materials are still high, labor costs are generally rising, and it is very difficult for enterprises to recruit workers and encounter financial difficulties such as credit difficulties.

The textile industry is a labor-intensive enterprise with low profit level, and the tight credit has caused the traditional industries to be squeezed, and the capital turnover difficulties of small and medium-sized enterprises have aggravated the pressure of operation.

Play the role of futures tools to enhance the confidence of the textile market

In this survey, traders and downstream enterprises are more sure about the introduction of cotton and PTA futures. The function of futures price discovery is outstanding, which guides the direction of changes in the spot market. Traders' quotation often refers to the trend of futures.

The prices of textile raw materials and products fluctuate drastically, and spot businesses and traders can only stabilize their operations by making good use of futures risk management tools.

The tightening of domestic policies and the appreciation of the renminbi have had a negative impact on the overall operation of the textile industry, and the high price of textile raw materials has also shaken market confidence.

The status of China's textile industry in the international arena is still not replaced. The 109th Canton Fair's export volume was 36 billion 860 million US dollars, an increase of 5.8%, but the textile enterprises were mainly short and medium sized orders.

At present, the inventory of enterprises is very high, such as Jiangsu Tian Ba product inventory is about one and a half months, higher than the normal level, Xinxin chemical fiber stock in 8 to 9 days, increased by 4 to 5 days than in 2010.

We understand that although the overall inventory is relatively high, the supply of high-grade cotton is still tight, and with the support of the state's purchasing and storage price, some cotton traders believe that the cotton price of 24000 yuan / ton has a certain margin of safety and low position is reluctant to sell.

In the futures market, cotton 1109 contracts continue to spread for several trading days at 24000 points, while the "adjustment" has just been released. Tightening policy has entered a "gap period" for a month. Confidence in the spot market is expected to resume, and the small and medium-sized textile enterprises in distress are in the short term or welcome a turning point.