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Epidemic Or Combating Textile Demand
Summary: ICE cotton futures continued to fall on Friday, with weekly performance showing the worst in eight and a half years. Concerns about the slowdown in global growth and concerns about the decline in cotton demand have been triggered by the new pneumonia. Domestic market:
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The boom of cotton textile industry has fallen below the value of the withered value, short term epidemic or combating textile demand. Up to now, the cotton business inventories in China are at 5 million 11 thousand and 900 tons, down 3.37% in the annulus, up 3.40% compared with the same period last year, the first decline in the new cotton year, but in January commercial inventories were at a relatively high historical level, and the stock pressure could not be ignored.
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The resumption and resumption of production of cotton upstream and downstream enterprises has resumed one after another, and the recovery of demand is still for some time. In addition, the price difference between cotton and domestic products has exceeded 800 yuan / ton for three consecutive days.
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At present, however, cotton prices are relatively low. Beware of market sentiment recovery, price or overshoot rebound. Focus on demand, logistics, transportation and epidemic changes. On the operation, it is suggested that Zheng cotton main force should wait and see mainly.
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