Global Cotton Supply Is Still Loose, Cotton Price Difference Keeps Upside Down.

In February, USDA's monthly supply and demand report showed that global output dropped slightly from 37 thousand tons to 222 million 74 thousand tons, of which India reduced 44 thousand tons to 6 million 53 thousand tons, but still maintained the status of the first cotton producing country in the world. The volume of consumption dropped by 292 thousand tons to 24 million 437 thousand and 800 tons, and the rate of reduction was relatively large. Among them, consumption in China and India was reduced by 109 thousand tons respectively, and the end of stock increased by 266 thousand tons to 22 million 661 thousand tons.

In addition, China's output and final inventory remain forecast in January.

Down 109 thousand tons, import volume cut 109 thousand tons, import reduction all come from consumption decline; Pakistan, India and other countries import volume respectively lowered 8.7/2.2 million tons, the United States, India and Brazil respectively cut export 10.9, 2.2 and 22 thousand tons, all have different range of reduction, there are no obvious changes in other countries' projects, the new year global cotton supply is still loose.

China's cotton imports in January dropped by 65 thousand and 200 tons to 96 thousand tons, a decrease of about 40.44%, an annual total of 462 thousand tons, down 261 thousand and 100 tons compared with the same period of last year. In addition, the imported yarn of India 32S was 19415 yuan, and the domestic 32S monthly index was 19185 yuan. Recently, imported yarn has been in a loss, and the decline in yarn imports has also been taken for granted. In January, the yarn imports decreased by 25.85%, 161 thousand and 500 tons, and the annual import of imported cotton yarn 899 thousand and 300 tons, a decrease of 3.85% over the same period.

In 2014, cotton was temporarily closed, and the price of cotton was restored to market.

The proportion of more than 7-15 days of Spring Festival holiday has increased over the past 15 days, and the phenomenon of "early leave and delayed start" is common.

Second, the sale situation was faster than last year, and most of the sales were significantly reduced compared with last year because of the clear policy.

In addition, these two years before the Spring Festival every year

Generally reduce inventory, last year after the Spring Festival textile enterprises to increase procurement efforts, which led to short-term spot rose 300-500 yuan, futures also followed the emergence of a rising market, and this year most of the textile enterprises have been watching, there is no centralized replenishment of the stock market phenomenon, are maintained with the purchase.

It is understood that the domestic spot lint began to decline in early January, until the Spring Festival before, the recent temporary stability. After the Lantern Festival, the price of lint quotes and textile enterprises started to increase. The purchasing volume of textile enterprises did not increase significantly, and still maintained low inventory. The purchase price of Shandong reached 2.98 yuan per kilogram, with little volume and almost no turnover.

The producer 32S quoted 19200 yuan, while the chemical fiber and viscose increased by 100-320 yuan before the festival. The price was 6360 yuan and 13100 yuan respectively, and the sticky cotton price difference was 850.