Domestic Cotton Prices Are Stable And Weak &Nbsp; International Cotton Prices Fluctuate.
The near future,
Lint spot
When sales are cold, cotton processing enterprises will increase their willingness to pay for storage, and the volume will continue to enlarge.
In March 5th -9 week, cotton storage and storage totaled 92340 tons, an increase of 21950 tons compared with last week, an increase of 31.2%.
As of March 9th, the total volume of storage and purchase pactions in 2011 was 2800830 tons, of which 1211310 tons were traded in the mainland and 1589520 tons in Xinjiang (573560 tons of corps).
Domestic textile market cotton yarn turnover is still flat, spinning manufacturers shipping mentality enhanced, cotton yarn price center continues to move downward.
In the downstream market, the price of gauze is weak, the purchase of cotton lint is cautious, the spot market paction is limited, the domestic cotton price is stable and weak, and the price of zhengmian futures and cotton matching keeps falling.
In March 9th, 32 cotton combed yarn prices were quoted at 26510 yuan / ton, down 100 yuan / ton last week, or 0.4%, and the polyester staple price was 11470 yuan / ton, down 80 yuan / ton, or 0.7% lower than last week.
The average price of cotton seed purchase in the mainland is 4.1 yuan / kg, up 0.01 yuan / Jin compared with last week, or 0.2%; the average price of seed cotton purchase in Xinjiang is 4.25 yuan / Jin, which is unchanged from last week.
The average selling price of the standard grade lint in the mainland was 19630 yuan / ton, down 19 yuan / ton compared with last week, or 0.1%, and the average price of Xinjiang standard lint sale was 20217 yuan / ton, which was unchanged from last week.
Zhengzhou cotton futures contract settlement price of 20365 yuan / ton in March 2012, down 130 yuan / ton, or 0.6%, compared with last week; the average price of electronic matching March 2012 of the national cotton trading market was 20048 yuan / ton, down 165 yuan / ton, or 0.8%.
National Bureau of Statistics
In February, the consumer price index (CPI) rose 3.2%, down from the current one-year fixed deposit rate of 3.5%, marking the end of negative interest rates lasting 24 months, which is conducive to the return of deposits to the banking system.
According to the credit data of the people's Bank of China, RMB deposits increased by 1 trillion and 600 billion yuan in February, an increase of more than 282 billion 400 million yuan over the same period last year. The market is relatively relaxed in March and is expected to become stronger.
Fundamentals, the China logistics and purchasing Federation announced the February China Manufacturing Purchasing Managers Index (PMI). According to the industry, the new order index of textile industry increased by 22.1 percentage points, down 2.3 percentage points from the same period last year, and the finished product inventory index increased by 4.8 percentage points, up 13 percentage points compared to the same period last year. The new order index of clothing shoes and hat industry decreased by 11.6 percentage points, down 7.6 percentage points compared with the same period last year. The finished product inventory index decreased by 3.1 percentage points, up 12.6 percentage points compared with the same period last year, indicating that the decline in orders and the high inventory problem of the downstream enterprises have not yet been alleviated.
At present, the supply of gauze in China's textile market is stacked up, and the situation of supply exceeds demand is obvious.
Under this constraint, the willingness to replenishment of lint materials in textile enterprises is again suppressed, and the cold market situation in the spot market is hard to reverse at a time, and domestic cotton prices will remain weak in the short term.
India's cotton export policy has been adjusted frequently, and experienced a number of changes during the past week, which led to the fluctuation of international cotton prices.
However, under the influence of the US Department of agriculture (USDA) March global cotton production and demand forecast continued to increase supply and reduce consumption, market expectations for dim demand continue to pressure international cotton prices.
In March 9th, New York cotton futures contract settlement price in May 2012 was 88.8 cents / pound, up 0.6 cents / pound compared with last week, or 0.6%.
The international cotton index (M), which represents the average price of the Chinese main port on the import cotton, is calculated at 1% tariff. The cost of import of RMB is 16230 yuan / ton, down 45 yuan / ton, or 0.3% yuan, lower than the domestic market 3400 yuan / ton, the price difference increased 26 yuan / ton compared with last week. According to the sliding tax, the import cost of the folded RMB is 16732 yuan / ton, down 46 yuan / ton compared with last week, or 0.3% yuan, lower than the domestic market 2898 yuan / ton, the price difference increased by 27 yuan / ton last week.
Greece's final debt replacement has been successful, and the possibility of disorderly default has been eliminated.
Market optimism
The mood is limited. In the context of the ECB and China's lowering the 2012 economic growth expectations respectively, as a large commodity importing country, the slowdown in demand will lead to a lack of momentum in the commodity market.
Fundamentals, according to Xinhua news agency, the India government is about to cancel the ban on cotton exports issued in March 5th. Due to the high cost performance of India cotton, especially the enthusiasm of Chinese textile enterprises to purchase India cotton, the cancellation of export ban will undoubtedly bring pressure to the international cotton market.
Under the premise of no new progress in India's export policy, the recent international cotton price will continue to be weak.
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