Domestic And Foreign Cotton Yarn Spreads Continue To Shrink, Spreads Between China And Indonesia Cotton Yarn Widened

1. Price trend

(1) cotton prices

This week, domestic cotton spot prices stabilized, zhengmian futures fell, and international cotton prices overall dropped, but cotton prices continued to rise in India, and Pakistan cotton prices remained strong.

(two) price of cotton yarn and polyester staple fiber

This week, domestic cotton yarn prices were warmer, polyester staple prices continued to fall, cotton prices in India and Vietnam continued to rise slightly, and cotton prices in Pakistan and Indonesia remained stable.

(three) price difference

1. At home and abroad

The overall difference was expanded, but the price difference between India and Pakistan continued to shrink.

In January 13th, the import cost of the international cotton index (M) was RMB 14491 yuan / ton (1% customs duties, customs rates, the same below), which was lower than the domestic standard of 1167 yuan / ton, the price difference increased by 186 yuan / ton compared with last week. The cost of import of S-6 cotton in India was 13931 yuan / ton, lower than domestic 1727 yuan / ton, the price difference narrowed 508 yuan / ton last week, and the import cost of Pakistan standard grade cotton discount RMB was 13325 yuan / ton, which was lower than domestic 2333 yuan / ton, and the price difference narrowed 131 yuan / ton last week.

2, the price difference between domestic and foreign cotton continues to shrink, and the spread of cotton yarn between China and Indonesia is widening.

In January 13th, Vietnam's 32 cotton combed cotton yarn 22610 yuan / ton (the cost of imported RMB) was lower than that of China's 32 pure cotton yarn, 620 yuan / ton, the price difference narrowed 16 yuan / ton compared with last week; 32 cotton combed pure cotton yarn of India was 23053 yuan / ton, which was 177 yuan / ton lower than that of China's domestic 32 pure cotton yarn, and the price difference narrowed 19 yuan / ton compared with last week. Indonesia's 32 pure cotton yarn was 19 yuan / ton, which was lower than that of domestic domestic pure cotton yarn.

3, domestic yarn cotton,

Spreads widened.

This week, the difference between domestic yarn and cotton price was 7572 yuan / ton (32 cotton and pure cotton yarn -328B cotton price), an increase of 115 yuan / ton compared with last week, and the difference between polyester and cotton price was 7383 yuan / ton (328B cotton price polyester staple fiber price), which was 25 yuan / ton more than last week.

Two. Fundamentals

Recently, hand picked cotton "double 28" concentrated in 16000-16300 yuan / ton (the same weight, the same below), machine picked cotton 3129B price in 15900-16100 yuan / ton, bonded warehouse import cotton price slightly higher than real estate cotton, as of January 13th, the national cotton sales rate is 57.7%.

The downstream textile enterprises were stocked up years ago and planned to extend their vacation time. In early January, the national cotton industry inventory was about 643 thousand tons, the use days were about 31.5 days, the annulus ratio increased by 1.4%, the yarn and cloth production and sales rate increased, and the textile enterprises intended to reduce the cotton blending ratio.

On December 30th -1 5, the net contract volume of US cotton exports in December 30th was 53 thousand and 500 tons, 29% higher than that of the previous week, and 47 thousand and 700 tons of cotton in the 2016/17 year, 17% less than that of the previous week, and the speed of US cotton processing has accelerated. The monthly USDA forecast has increased the global stock and the output of American cotton. The cotton price has continued to rise with the purchase and storage of commercial cotton in India. The Pakistan government has launched the export promotion policy to stimulate the import of foreign cotton by the textile enterprises in Vietnam.

Cotton imports continue to grow.

Three, macroeconomic situation

In December, CPI rose moderately, rising by 0.2%, an increase of 2.1% compared with the same period last year. In December, the PPI rose by 1.6%, up 1.6% compared with the same period last year. At the end of 12, the growth rate of the broad currency (M2) slowed down, an increase of 11.3% over the same period last year. The growth rate was 0.1 and 2 points lower than that of the end of last year and the same period last year. In 2016, the gross value of import and export of China's goods trade was 24 trillion and 330 billion yuan, down by 0.9% over the same period last year.

Among them, exports decreased by 2% compared with the same period last year, while imports increased by 0.6% over the same period, with a surplus of 3 trillion and 350 billion yuan and a narrowing of 9.1%.

President Trump did not mention the tax cuts and infrastructure projects at the press conference. The market was slightly disappointed by the conference. The US dollar fell. The US retail sales in December increased by 0.6% compared to the expected 0.7%, but better than the previous value. The US PPI grew by 0.3% in December, which was in line with the expected value of 0.4%.

To sum up, the domestic supply of cotton is still abundant, textile enterprises replenish goods before years, raw materials inventory increases, and domestic cotton prices are expected to remain weak in the short term. On the international side, although the US cotton export data are acceptable, USDA has increased the supply of India cotton and is expected to face downward pressure on inter national cotton prices in the short term.

For more information, please pay attention to the world clothing shoes and hats net report.