Pakistan Cotton Price Rises, Zheng Cotton Warehouse Receipts Continue To Increase

According to the statistics of Pakistan Ginning Factory Association, as of March 15, Pakistan's cotton purchase volume this year was 1822000 tons, with a year-on-year increase of 9.99%, of which the purchase volume of new cotton in Punjab Province was 1173000 tons, with a year-on-year increase of 15.92%, and that in Sindh Province was 644000 tons, with a year-on-year increase of 0.56%. Domestic textile mills have purchased 1.708 million tons of new cotton, and ginning mills have only 80000 tons of new cotton unsold.

It is reported that due to the tight supply of high-grade new cotton in China, the price of cotton in Pakistan has continued to rise recently, and both buyers and sellers are cautious in the face of rising cotton prices. According to the Karachi Cotton Association, the spot price of Pakistan rose by 50 rupees to 6800 rupees/maud (37 kg). Market insiders predict that the current inventory of the ginning plant is about 85000 tons, and the ginning plant is reluctant to sell after the price rises.

Traders revealed that the rising price of Pakistani cotton yarn is also Pakistan Cotton yarn Export is more difficult. Fortunately, the domestic market demand is quite good. At the same time, the decline in international oil prices has driven the price of Pakistani blended yarn down. Last week, the price of blended yarn fell from 129 rupees/kg to 127 rupees/kg, and the production of blended yarn in Pakistan textile mills expanded.

Pakistan: With the temperature rising, the weather in most cotton areas in Pakistan is relatively dry at present. New cotton planting in 2017/18 has started in southern Sindh Province, but early sowing cannot be popularized in a large area due to the unresolved irrigation water supply. In addition, with the end of new flowers coming into the market in 2016/17, the cotton price in Pakistan remained high. On the 20th, the new flower gin factory picked up 6800-7150 rupees/Mohnd.

The reserve cotton wheel set a floor price of 15475 yuan/ton this week, 63 yuan/ton lower than last week. The turnover rate of reserve cotton also began to decline last week, from 84.76% on Monday to 67.4% on Friday, and the average transaction price of reserve cotton also fell to 14726 yuan/ton. It can be seen that both textile enterprises and traders have become rational about reserve cotton auctions, and both textile enterprises and traders are able to auction according to their needs. Judging from the turnover of reserve cotton yesterday, the auction turnover rate reached 76%, and the average transaction price was 14637 yuan/ton, 96 yuan/ton lower than the price of the previous day.

The transaction rate of reserve cotton was less than 50% due to the decline of Zheng cotton price. at present Zheng Mian There is interaction between reserve cotton auction and spot goods. The decline of Zheng Mian has a greater impact on market confidence, and Zheng Mian is lower. It is expected that reserve cotton auction enthusiasm will be further weakened. Zheng Mian's technical shortness, the turnover difference of reserve cotton and the continuous increase of warehouse receipts all had a negative impact on Zheng Mian. Yesterday, the 1705 contract fell below fifteen thousand, and the downward imagination space expanded in the later period. In addition, American stocks and commodities were both short, and attention was paid to systematic risks.

Brazil's new soybean harvest is expected to hit an all-time high, while Argentina's production may be higher than expected, and the weak situation of US soybeans is hard to change. And last week, the operating rate of oil plants recovered, and the supply of grease and oil increased again. The performance price ratio of cotton related products is at a disadvantage, and the market share is constantly occupied. In addition, the domestic demand in the middle and lower reaches is weak, and the cotton by sales is sluggish, which makes the market continue to maintain a steady and declining trend.

All over the country cottonseed Most prices are stable, and some continue to fall. At present, the price of cotton by-products is poor, and the cottonseed crushing is in deficit. Some cottonseed oil plants also temporarily stop production and wait to see. Most of the manufacturers still processing are mainly consuming inventory. They are not willing to purchase high priced cottonseeds, and the wait-and-see mentality of holding down prices still exists, which makes some cottonseed prices still fall under pressure on that day.

For more information, please pay attention to the World Clothing, Shoes and Hats Internet Cafe.