Cotton Price Consolidation Rose, Foreign Cotton Rose More Than Domestic

This week, cotton prices consolidation rose, international cotton prices rose more than domestic. Cotton yarn prices continue to rise, international yarn prices rose more than domestic. Price fluctuation of polyester staple fiber.

1、 Domestic cotton price consolidation, overall slightly higher than last week this week, domestic textile enterprise raw material procurement into the end stage before the Spring Festival, cotton trading volume continued to decline, cotton price range consolidation, overall slightly higher than last week. From January 18 to 22, 2021, the settlement price of main cotton futures contracts in Zhengzhou Commodity Futures Exchange was 15201 yuan / ton, up 36 yuan / ton or 0.2% compared with the previous week. The average price of national cotton price B index, which represents the market price of standard grade lint in mainland China, was 15147 yuan / ton, up 34 yuan / ton or 0.2% over the previous week.

Second, international cotton prices rose. This week, Biden officially took the oath of office as president of the United States. Expectations of economic stimulus plan to boost economic recovery continued to rise. The center of gravity of the U.S. dollar index turned downward, and the global stock market reached a new high, pushing the international cotton price to continue its upward trend. From January 18 to 22, 2021, the settlement price of the main contract of New York cotton futures was 81.77 cents / pound, up 0.78 cents / pound or 1.0% compared with the previous week. The average price of international cotton index (m), representing the average CIF price of China's main ports, was 89.26 US cents / pound, up 0.57 cents / pound or 0.6% compared with the previous week. The import cost of RMB 14558 yuan / ton (calculated by 1% tariff, including port miscellaneous and freight), increased by 91 yuan / ton or 0.6% compared with the previous week. The international cotton price was 629 yuan / ton lower than the domestic cotton price, and the internal and external price difference was reduced by 17 yuan / ton compared with the previous week.