According to feedback from several cotton trading companies in Jiangsu, Henan and other places, as the recent Zheng cotton CF2109 contract price continues to consolidate within the 15,500-16,000 yuan/ton compartment, the direction is unclear, and cotton companies have increased their basis quotes. , pending orders, and point-price sales (most of the basis differences have not been adjusted); while the number of “fixed price” resources on the shelves has been significantly reduced, and the quotations are generally on the high side, and the transactions are relatively deserted.
A cotton company in Changzhou, Jiangsu Province said that since this week, cotton quotations at warehouse points in Xinjiang have been stabilizing. 15,510 yuan/ton) and cotton companies are trying their best to sell through multiple channels and methods, but downstream cotton spinning mills, middlemen and other inquiry and procurement are still “step-by-step and methodical”, mainly replenishing stocks for urgent needs, and large-scale launches at bargain hunting The phenomenon of purchasing is relatively rare, and the mentality of “buying up and not buying down” is prominent.
Judging from the quotation, on May 18th and 19th, the price of cotton picked by the 31-level “double 28” machine in the supervision warehouse in Xinjiang was 15,700-15,900 yuan/ton, Henan, The quotation price of Xinjiang cotton of grade 31 “Double 28” in Shandong and other inland warehouses is 16050-16200 yuan/ton, and the price difference between cotton inside and outside Xinjiang is 250-450 yuan/ton, which is about 50 yuan/ton larger than that in late April, mainly affected by the past two weeks. Xinjiang cotton road transportation prices continue to rise slightly on various routes and are affected by unsatisfactory weather conditions in most areas inside and outside Xinjiang.
A medium-sized textile company in Tai’an, Shandong Province believes that there is insufficient motivation for the short-term cotton rebound, and the replenishment plan for cotton, polyester staple fiber and other raw materials in mid-May was postponed by 7-10 sky. On the one hand, the National Development and Reform Commission recently held a regular press conference in May. The new spokesperson stated that as price signals continue to guide the production and circulation of raw materials, commodity prices will gradually return to the fundamentals of supply and demand, including cotton; on the other hand, On the other hand, orders returning from epidemic-ravaged Southeast Asian countries such as India, Pakistan, and Bangladesh are lower than expected, and the domestic sales market has entered the off-season of the industry. The order receipts of textile and apparel companies from June to September still need to be observed. Furthermore, after the central bank renewed the small-amount reduction in April, it renewed the “Mala Fen” (MLF) in equal amounts in May. There is a high probability that this month’s LPR, which will be released on May 20, will continue to remain unchanged, and market liquidity will remain unchanged. It is relatively tight, and it is more difficult for some small and medium-sized cotton textile and clothing companies to obtain credit support, and their cash flow is somewhat “stretched.” The company judged that there is little hope that the Zheng cotton CF2109 contract will effectively break through 15,500 yuan/ton, so the willingness to purchase Xinjiang cotton at the price range and basis of 15,500-15,800 yuan/ton has increased. </p
