Cotton Market Continues Weak Textile Industry Losses Continue To Increase, Lack Of Market Confidence

Last week (August 2-8), the cotton market continued to be weak, and the downstream purchasing intention was not strong. The losses in the textile industry continued to increase and market confidence was insufficient.


Last week, the cotton spot market continued to be weak. Under the influence of futures declines, the spot market was dominated by overcast and drop. Some manufacturers reflect that buyers' intentions are relatively poor recently, and the overall shipment is slow. A Hunan businessman has 3129 hands to pick up Henan cotton warehouse and offer a price of 13000 yuan / ton. The basic point price resources are generally carried out, and some of the high resource base of mixed parts is between -100 and -200 yuan / ton. In Sichuan, cotton spot hand picked cotton is about 13500 yuan / ton, sent to Xinjiang cotton 13000 yuan / ton, real estate cotton 12200-12400 yuan / ton to deliver, according to the quality of the price.


Last week, polyester raw materials PTA and MEG once again entered the downtrend, downstream demand fell again, polyester staple fiber also showed weakness. This week, Sinopec's Sinopec short sale price of 7800 yuan / ton, Sichuan chemical fiber and polyester short price of 6600-6800 yuan / ton.


At present, the losses in the textile industry continue to increase, the international situation is uncertain, business confidence is impaired, inventories continue to increase, and inventory speed is relatively slow, and some textile enterprises have entered the holiday mode. Recently, most of the provinces in China suffered heavy rains and some areas were affected. The normal operation of enterprises was affected.