Can Cotton Enterprises Only Live Passively And Follow The Trend Of Spinning Enterprises?

Zheng's main contract suddenly plunged into a high diving. In a short span of nine trading days, it fell from 16235 yuan / ton to 14605 yuan / ton, down 1630 yuan / ton, or 10.04%, and then rebounded under the impetus of cotton mills and traders buying large quantities of futures warehouse receipts and speculative funds. At the end of December, it broke through 15000 yuan / ton again. This round of decline has not only pushed the ICE main contract down from 72.30 cents / pound to 69.32 cents / pound, but the enthusiasm of Chinese buyer ON-CALL signing the import of American cotton has been ignited again.

And China includes Xinjiang cotton, real estate cotton and Reserve cotton And other spot quotes decreased by 400-500 yuan / ton as a whole. Although the ginning plants and cotton producers showed strong enough resilience, foreign merchants and traders taking the Zhengzhou main contract as the pricing basis took the lead in making a bigger adjustment of the quotations, and other cotton enterprises could only follow suit.

Judging from the survey, with the drop in cotton prices both at home and abroad, the textile enterprises' actions and efforts to replenishment in the low position are not large enough, obviously lower than expected in the industry. Some cotton mills in the mainland mills are always difficult to hold for 20-30 days, and no procurement plan has been made before the Spring Festival. Cotton prices fell. Spinning enterprises What are the days?

From the survey of small and medium-sized textile enterprises in Henan, Shandong, Hebei, Hubei and other places, the downward adjustment space of OE yarn, combed yarn and combed yarn was generally 300-500 yuan / ton in December (the price of combed yarn per unit 60S or above dropped nearly 800 yuan / ton), basically falling down with cotton price.

Taking C32S yarn as an example, the quotation of yarn in the market is currently 22800-23000 yuan / ton, and the cost is about 15500 (real estate 3128 to factory price) *1.06+5500 (processing fee) =21930 yuan / ton; plus two months financial expenses and income tax difference 4%, the total factory cost has reached 23050 yuan / ton; if the cost of Xinjiang cotton spinning yarn is at least 300-400 yuan per ton in 2016/17, the production and sale of one ton of 32S cotton yarn will be 400-500 yuan / ton; therefore, in addition to the good profits of Xinjiang cotton and imported yarn, the mainland's low count yarn situation is very difficult.

　　 Cotton mill Orders are still weak, with large orders and small profits. First of all, although the significant depreciation of the RMB is conducive to the export of textile and clothing, it is theoretically beneficial to the export orders. However, the trend of the continued appreciation of the people has been formed in 2017. Foreign orders have also taken full account of risks. Orders have been postponed or hoped for fixed exchange rates. Many orders are directly transferred to the cotton mills in Southeast Asian countries.

Secondly, as the state increased its environmental protection efforts, the proportion of printing and dyeing factories in Jiangsu, Zhejiang, Fujian, Hebei, Shandong and other places increased significantly, and the dyed fabric increased by 0.60-1.0 yuan / meter. The cloth factories and middlemen increased the risk of the price upwards to the upstream. Clothing factories and traders also fully considered the rising cost and postponed the purchase order. Again, the downstream garment enterprises and middlemen strongly anticipated the cotton price falling in the first half of 2017, and thought that 3128 cotton prices would drop below 14500 yuan / ton, so some orders were pushed back to 3 and April.

On the one hand, the starting price and final transaction price of the reserve cotton launched in March 6th were significantly lower than that of the current stock. On the other hand, the price of C21S-C32S cotton yarn such as port India and Pakistan was still 600-800 yuan / ton compared with the number of domestic yarn, and the bonded inventory reached 9.5-9.8 million tons, which could replace and supplement domestic yarn at any time.

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