At present, the price quotation of machine-picked cotton in Xinjiang’s supervision warehouse on “Double 29” has been raised to 22,900-23,050 yuan/ton. However, the price increase of cotton yarn and gray cloth obviously cannot keep up with the sharp increase in cotton futures. As a result, cotton spinning mills and weaving enterprises The pressure of cost transmission to downstream has doubled, and the profit situation of midstream and downstream has become increasingly worrying.
It is understood that since December, the overall ex-factory price of domestic cotton yarn has increased by about 500-1,000 yuan/ton. Recently, affected by factors such as increased pressure for epidemic prevention and control, logistics shutdowns, and successive holidays for textile and clothing companies, cotton yarn sales have slowed down, and cotton spinning mills have been tired. Inventory rate rebounded.
Recently, under the premise that there has been no major improvement in cotton consumption and the price of cotton textile products is under great pressure, Zheng cotton has continued to rebound. The author summarizes the following points: First, ICE cotton futures continue to hit new highs in the past eleven years. On January 18, The intraday high hit 120 cents/pound, which has a prominent pulling effect on Zheng cotton; second, the central bank cut interest rates on the 17th beyond market expectations, releasing liquidity and supporting stable economic growth; third, since late December, production areas such as India and Pakistan have The prices of cotton and cotton yarn have risen sharply in unison, resulting in a rapid expansion of the “inversion” of domestic and foreign cotton yarn. Cotton companies, textile companies, and traders have strong expectations for cotton yarn to make up for the increase after the Spring Festival.
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