On January 26, less than a week before the Spring Festival, the cotton textile industry suspended production for the holiday and employees went home to celebrate the New Year. During a period of temporary stagnation in production, Zheng Cotton’s fluctuation space gradually narrowed, and it seemed to have become much quieter. The market situation has not changed much before the holiday, and all parties in the market are full of expectations for the market outlook.
Since the launch of new cotton, cotton sales have not been ideal, lagging significantly behind the same period last year. According to the latest statistics from the National Cotton Market Monitoring System, as of January 20, the national sales rate was 28.8%, a year-on-year decrease of 27.2 percentage points, of which Xinjiang sales were 26.5%, a year-on-year decrease of 27.9 percentage points, while the cotton sales rate in the same period last year reached 56% Above, this year’s sales progress is actually less than half of last year’s.
It is understood that because companies have reserves of cotton raw materials to support them, since new cotton came on the market last year, companies have been less enthusiastic about purchasing new cotton, and new cotton is more used as cotton. At the same time, the United States continues to create excuses to put pressure on Xinjiang cotton. In order to avoid risks and reduce trouble, some domestic export-oriented companies reduce the use of Xinjiang cotton and purchase foreign cotton to supplement the raw material gap. The above situation has caused the sales progress of domestic cotton to be slow, and foreign cotton to be popular.
It is understood that some companies still have low-price raw materials for about a month, mainly based on reserve cotton resources from early auctions. In mid-to-late February, with the consumption of raw materials, companies have to successively purchase new cotton for production. Now the cotton spinning industry is at low inventory. With the support of high cotton prices, and the industry ushering in the traditional peak production and marketing season, cotton prices are still strong. Mainly running, the probability of significant adjustment is low.
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