Cotton Yarn Prices Gradually Stabilized After Mid Autumn Festival

Since September, new cotton has already started to weigh in a small scale. At present, Xinjiang Kashi, Turpan, Akesu and other places 6.5 yuan / kg scale opening price, cotton picking progress is accelerating, Xinjiang picking progress is about 30%, the mainland has entered the September cotton yarn market has been small fluctuations, the specific body now price and sales volume two aspects.

Price, before the G20 Hangzhou summit, cotton yarn prices on all cotton markets began to appear "frozen". In Hutang, Ningbo, Changyi, Qian Qing and other regions, C16, C21, C32, J40 and other popular mainstream yarn prices were not popular, until the Mid Autumn Festival cotton yarn prices gradually stabilized.

Analysis, September

The main reason for this weakness is the chain reaction triggered by the policy restrictions at the G20 summit in Hangzhou.

On the other hand, the sale of cotton yarn is not very satisfactory, mainly because the procurement of cloth factories in the downstream is not too active, and the starting rate of looms is low.

According to the National Bureau of statistics, the yarn production in 2016 was 19 million 711 thousand and 100 tons, up 6.61% from the same period last year. Cotton yarn output was 14 million 12 thousand and 300 tons, an increase of 5.57% over the same period last year. The blended yarn production was 2 million 761 thousand and 200 tons, an increase of 10.13% over the same period last year. The output of purified yarn was 2 million 938 thousand and 700 tons, up 8.58% over the same period last year. It shows that the output of Chinese cotton yarn has a good growth momentum of 1-6.

From the perspective of enterprise production and profitability, the gross profit margin of cotton textile industry in 2016 was 9.39% in 1-6 months, and the rate of three fees (business, management and financial expenses rate) was 4.62%, and the profit rate was 5%. If excluding the effects of non recurring gains and losses, the nominal pre tax profit rate was 4.77%; the finished product inventory ratio of the industry was 7%, indicating that the products were sold normally; the export proportion was 6.17%, indicating that the export situation was better; the industry's loss was 13.30%.

From the link between production and marketing, the production and sale rate of cotton textile industry in 2016 1-6 was 98.68%, indicating that the product sales status of the industry was better; accounts receivable turnover rate (main revenue / accounts receivable net) was 9.19 times; accounts receivable operation cycle (180 days / accounts receivable turnover rate) was 19.59 days, the more accounts receivable turnover times, or the less turnover days of accounts receivable, it indicated that its profit passageway became more and more smooth.

From the perspective of asset operation, the turnover rate of total assets in the cotton textile industry (main income / assets total) was 0.85 in 1-6 months in 2016, and the total assets operating cycle (180 days / total assets turnover) was 211.28 days. The total number of assets turnover times or the total assets turnover days were less, indicating that the efficiency of asset utilization was more.

The asset liability ratio of the cotton textile industry in 2016 was 53.16% in 1-6 months, indicating that the operation of the financial policy was relatively stable, and the net assets yield was 9.09%, indicating that the net asset efficiency of the industry was relatively high.

From the comparison of the average size of enterprises, 1-6 months in 2016

The average output value of enterprises is 114 million 659 thousand and 100 yuan, 1.33 times the average of entertainment and entertainment industry; the average assets of enterprises are 130 million 780 thousand yuan, 1.47 times the average of entertainment and entertainment industry; the average main business income of enterprises is 111 million 417 thousand yuan, 1.32 times the average of sports entertainment industry; the average profit of enterprises is 5 million 567 thousand and 700 yuan, 1.26 times the average of sports entertainment industry; the average delivery value of enterprises is 6 million 979 thousand and 900 yuan, 0.30 times of the average of sports entertainment industry; the average liability of enterprises is 69 million 520 thousand yuan, and the average value of entertainment and entertainment industry is 69 million 520 thousand times.

Thus, in the cotton textile industry, the average size of enterprises is higher than the average scale of sports and entertainment industry.

10-25%.

With the approaching of national day, the picking progress of seed cotton will continue to accelerate.

The output of cotton in the mainland has fallen considerably this year.

According to data from the national cotton market monitoring system, cotton production in the Yellow River basin and Yangtze River Basin decreased by -23.4% and -28.7% compared with the same period in 2016 years, and the output of cotton in the mainland was less than 1 million 100 thousand tons.

Inventory is still dominated by national cotton reserves. It is estimated that the price of new cotton will be lower after 10 months.

Analysis shows that the recent increase in cotton inventory and yarn stock in textile enterprises is mainly due to the stocking and stocking of enterprises to cope with the handover of new and old cotton. In addition, with the impact of G20 stoppage, the demand for downstream textile printing and dyeing enterprises is limited, resulting in an increase in inventories.

In addition, the sharp decline of import yarn in August also led to a sharp decline in the competitiveness of domestic yarn, affecting the demand for domestic yarn.

However, with the gradual resumption of G20 enterprises and the increase of start-up rate of textile enterprises, the downstream demand is expected to be greatly improved.

The recent rebound in imported yarn has also brought opportunities for domestic yarn. The competitiveness of domestic yarn has increased. As the market has gradually entered the traditional peak season of consumption, cotton demand is expected to support cotton prices.

On the whole, the cotton market is mainly due to the further increase in market supply and demand.

The future of the cotton market is difficult to make a big difference, but there is little room for further downlink and space. The price of the cotton market is fluctuating, but the extent will not be great. For the cotton yarn market, the price fluctuation will be closely related to the sales price of the new cotton, and the good support that cotton yarn can wait for in the cotton market is not a lot.