In recent trading days, Zheng cotton has risen strongly, and domestic cotton spot basis quotations and fixed price “rises” have come and gone. Judging from the feedback from cotton enterprises in Shandong, Jiangsu, Henan and other places, although cotton futures quotations have continued to rise sharply, the phenomenon of “prices and few markets” and the lack of transaction support has become increasingly obvious. Most cotton spinning mills and middlemen have resumed rigid-need procurement. , suspending plans to expand inventory in August and September.
A medium-sized cotton textile company in Dezhou, Shandong Province said that in the past half month, the main contract of Zheng Cotton has broken through important levels such as 18,000 yuan/ton (the early trading high on August 17). 18445), the cost of cotton yarn has risen with the sharp increase in cotton futures prices. Although we have repeatedly communicated with customers in Jiangsu, Zhejiang, Guangdong and other places, the price increase space that downstream and consumer terminals can accept is significantly lower than that of cotton spot prices. On the one hand, enterprises have reduced the purchase of cotton at high prices and basically suspended inquiries and purchases of Xinjiang cotton in 2020/21. At the same time, they have increased the replenishment of polyester staple fiber and increased the number of orders for blended yarns, pure polyester yarns, etc.; on the other hand, they have actively Negotiate with weaving, fabric and other end customers to moderately increase cotton yarn quotations.
From the survey, the current raw material replenishment of small and medium-sized cotton spinning mills consists of the following three parts: auctioned reserve cotton, port bonded or immediate foreign cotton (mainly Indian cotton, West African cotton Cotton, Brazilian cotton and a small amount of US cotton, the quality requirements have dropped significantly) and 2020/21 real estate cotton or Xinjiang cotton (because the CF2210 contract price has risen to 18,300-18,500 yuan/ton, the cotton futures are now inverted and narrowed significantly, and textile companies are accepting The desire for warehouse receipts cools down rapidly). On August 17, the weight quotations of “Double 28” machine-picked cotton in warehouses in Jiangsu, Henan, Shandong and other places were concentrated at 18,600-18,800 yuan/ton (due to different specific quality indicators and warehouses, there may be a difference of about 100 yuan/ton). Taking into account the price difference between gross weight and net weight and the short-term difference, the “fixed price” of Brazilian cotton M 1 1/8 net weight of port traders is basically in line with 18,900-19,200 yuan/ton. </p
