Cotton Spot Traded Cold Spinning Enterprises Mostly Scattered Small Single

domestic market

Domestic cotton spot prices rise, the market turnover is obvious.

In June 2nd, Zheng cotton futures rose all the way. Zheng cotton main contract 09 settlement price of 11735 yuan / ton, up 165 yuan / ton. China's cotton price index remains unchanged at 11795 yuan / ton.

Domestic cotton spot market lint prices overall rose slightly yesterday. Part of the quotations from cotton enterprises increased by 50-100 yuan / ton yesterday. The price of 3128B grade lint is 11880-11930 yuan / ton. Today, most cotton enterprises offer higher prices, and textile enterprises are less motivated to purchase. They often look for low points in futures and sell at appropriate price. The spot market is light.

international market

Pessimism suppresses inquiry price, spot trading stall

The ICE cotton market rose sharply in the first trading day of June. The main contract price in July was 60.06 cents, up 247 points from the previous trading day. The price index of imported cotton rose with the New York Stock Exchange, and the M class offered 68.76 cents / pound, up 2.5 cents from the previous day.

From the perspective of market reaction, there is no substantial change in downstream consumption, and the market is generally not optimistic about the market outlook. Under the relatively pessimistic expectations, the surge in the New York stock market directly led to the cold of imported cotton spot trading, and even the power of customers to even query prices had been destroyed.

Judging from the quotation of traders, the US cotton basis price is stable. The M class quotation still stays at 1000 points in the ICE7 month contract. In the 20 year, the cotton basis difference in Brazil has been lowered, the M level quoted at about 600; the Australian cotton basis difference has been maintained at 2400-2500 point high interval, and no obvious adjustment has been made; India cotton continues to sell at a low price, and the spot shipment basis is further reduced to around 200.

Yarn Market

The price of pure cotton yarn is stable, but the turnover of the blends is partly rising.

Cotton yarn rose 19415 in September, 235 in January and 70 in January. The turnover was 6497, and the position was 8554.

Recently, Xiaobian visited Zhejiang and found that the supply of imported yarn was relatively large, and the domestic yarn had a great impact. At present, the market still imports 32S, and 40 combing goods are relatively good. The import price of 32 high matching markets in Ningbo market is maintained around 19800, the imported combed 40 yarns are about 22500 yuan, and the imports of the Shaoxing market are 32 yuan with a high price of 20000 yuan, and the combed 40S is 23000 yuan. The actual transaction price may be somewhat lower, and turnover is still scarce. Most enterprises reflect that there is basically no profit margin at present. Most of the enterprises' orders are scattered and small. Some enterprises have feedback to receive some blending orders at the present stage. Some enterprises also reflect that they can receive orders from modle cotton now. Most enterprises still focus on stock and shipping. Some downstream garment factories have indicated that export orders have slightly recovered, with some Bangladesh orders.

Industry information

1, influenced by the westerly winds brought by the Cyclone Amphan., the swarm is moving to central and Maharashtra. Before July, there may be several successive waves of invasion in Bihar and Orissa of northern India. Then the swarm continues to move westward and return to Rajasthan as the winds of the monsoon change.

In 2 and June 1st, the southwest monsoon landed in Kerala and arrived 4 days ahead of schedule. It is expected that the Gujarat and Ma Bang will usher in heavy rainfall, and the drought will be eased. At present, the new cotton planting rate in the northern region has reached 85%-95%.