In late February, all Zheng cotton contracts peaked and plunged, and the ex-factory price of cotton yarn also fluctuated and fell. It was not until mid-April that it gradually stabilized. Compared with the current price of cotton, which generally dropped by more than 2,000 yuan/ton, the market transaction price of cotton yarn It also dropped by 1,500-2,000 yuan/ton (the adjustment range for OE yarn and low-count yarn is about 1,000-1,500 yuan/ton). At present, in the light textile markets of Jiangsu, Zhejiang, Guangdong, Shandong and other places, it is generally said that yarn traders have suffered serious losses. Some middlemen have no plans to restock cotton yarn and blended yarn before the end of April. Dealing with high-priced inventory and collecting payment in a timely manner are top priorities. .
From the author’s investigation of some yarn mills and middlemen, the phenomenon of inverted purchase and sales of cotton yarn traders does exist, but the extent does not reach 1,000-2,000 yuan/ton. The reasons are as follows :
First, traders in various light textile markets mainly purchase goods from before the Spring Festival to late February (CF2109 contract is 15,000-16,000 yuan/ton), and the main contract is 16,000 yuan/ton. The above orders have been placed very carefully (even if there is a large order, there is basically a contract and the downstream customer has paid a deposit), and the traders’ peripheral news and terminal consumption feedback are very timely;
Second, cotton yarn traders in various light textile markets almost all operate “short-term, flat and fast” operations (limited by funds, resources, customer groups, etc., there are very few large-scale stockpiles). The Zheng Cotton CF2109 contract will be released in mid-March. Breaking 16,000 yuan/ton, traders have stepped up their clearance sales. On the one hand, traders are “small ships and easy to turn around”; on the other hand, traders pay in multiple ways and have flexible pricing. They sell when they are profitable. The transaction price of cotton yarn itself is a dynamic and gradual trend. The process of falling back;
The third is that as Zhengzhou’s cotton yarn delivery warehouse increases, and standards such as delivery product indicators and cotton yarn warehouse receipt validity period become more and more reasonable, cotton yarn traders are also more enthusiastic about hedging. heating up (some companies use cotton hedging to avoid risks for cotton yarn spot goods). For cotton mills and traders, the awareness of not doing “exposed” business and always guarding against business risks is becoming more and more popular. </p
