Domestic Cotton Market Without Price

February cotton The market is like the spring step, and a few more carefree and hopping, the cotton city's strong posture also let the market finally feel proud. The cotton market has welcomed the opening of the new year and brought a little relief to the mood of losing a year.

Looking back at the international cotton market, entering the February, the worries about the rising of US cotton exports and the shortage of resources in the future continue to ferment. The spot market was also uneasy driven by futures. In February, the Cotlook A index rose rapidly from 92 cents / pound to 95 cents / pound, with a slight adjustment at the end of the month. The rise of prices has obviously inhibited the activity of cotton trading, and the market in various places has been in a wait-and-see view after the price rises.

The US cotton export performance has been excellent. In the past two months, it has maintained a high volume of contract and shipping volume, which aggravated the market's worries about resource shortage and stock shortage. It came from Turkey, Vietnam and other emerging markets. Spin The demand for industrial countries is growing rapidly, and the volume of China's contracted volume has continued to grow negatively. China's import cotton market is greatly affected by the international cotton price. The price rises obviously. The imported cotton price index once hovered at 98 cents / pound. The price of cotton and cotton in high-grade cotton increased sharply, resulting in the suspension of procurement and waiting for the price to fall.

In the short term, the international cotton market has gradually recovered with the recovery of the economy. It is a fact that cotton supply and demand are basically balanced except for China. The growth of long-term cotton growing areas will inevitably increase the supply of cotton in the future. The shrinking of China's consumption and huge inventory will increase the pressure on the world's cotton storage and sales, and the contradiction between oversupply and demand can not be cracked, and the probability of long-term weakness will also increase greatly.

Back to the domestic cotton market, since February, due to crossing the traditional Spring Festival, the cotton city nerves that had been stretched for a year have been somewhat relaxed and calm. Zheng cotton futures market continues to deduce the policy market of differentiation, and the free flow of funds and speculation on policy make the market sensitive nerves even more difficult to ponder. The panic of the market has made this weak long-term forward contract worse, losing the support of purchasing and storage, and the release of high inventory, which has become an unavoidable reality in the new year's cotton market. The weak is expected, the fall is a process, and the whole market fluctuates and the risk is impermanent. Compared to the futures market, electronic matching transactions are much quieted. The lack of stock and the continuous storage and rejection of the spot make it difficult to gather popularity. In recent months, there are few contracts and prices are not representative. The price of the far month contract is maintained at 18500 yuan / ton, and the basic and spot market as well as dumping and storage remain the same.

Cotton spot market is short of resources, free trading is very small, market prices remain stable, cotton price index from 19442 yuan / ton to 19466 yuan / ton increased slightly, the market focus is still on the top. After the Spring Festival, the purchase and storage is in the stage of finishing, and the resources of all parts are bottomed out. By the end of February, a total of 5 million 940 thousand tons of storage were completed, including 3 million 930 thousand tons in Xinjiang, 2 million tons in the mainland and 84% of new cotton resources.

Throwing and storing is still the main body of market cotton supply. By the end of February, a total of 1 million 630 thousand tons were planned, and 590 thousand tons were actually traded. Among them, the new national standard resources accounted for 539 thousand and 400 tons, and the turnover was 161 thousand and 800 tons. After the festival, the overall turnover ratio, volume and transaction price have gone down in varying degrees. On the one hand, the quality of the cotton dropped, and on the other hand there is no selling of imported cotton, and the main reason is that the demand for downstream cotton is not strong enough.

In the textile market, due to the suspension of work during the Spring Festival, there are many holidays, and enterprises are slow to get back to work after the holidays. They are faced with problems such as insufficient orders, high cost, difficulties in capital and difficulties in finding workers, especially small and medium-sized enterprises. The demand for cotton yarn and cotton cloth in the lower reaches is weak, the market transaction is light, the price performance is low, the market is slow to move goods, and the whole is still recovering after the festival. Imported Foreign cotton is still the first choice for enterprises. The price has risen sharply in recent years, especially for high-grade cotton and cotton in Australia. There are 1000 yuan ~2000 yuan / ton increase respectively, and the quota is not enough, so that the cotton trade outside the port is deserted, and the price has no market phenomenon.