Affected by the rise in cotton, the price of pure cotton yarn has increased and the increase has been relatively large. As of August 12, 2021, CY C32S pure cotton yarn closed at 26,820 yuan/ton, an increase of 1,120 yuan/ton from the same period last month. Ton. The CC 3128B cotton index closed at 17,841 yuan/ton, an increase of 1,231 yuan/ton from the same period last month. However, since August, the overall yarn market has basically been on a wait-and-see trend, with market sales gradually declining and prices mostly stabilizing and consolidating.
In terms of raw cotton, the statistics of reserve cotton rotation in July show that the reserve cotton rotation from the 5th to the 30th A total of 191,100 tons have been transacted, with a transaction rate of 100%. The outgoing volume is relatively even, accounting for 31.85% of the total planned outgoing volume. Among them, traders’ transaction volume during the bidding process was “even better”, with a total of 127,000 tons, accounting for 66%, and textile companies’ transaction volume was 64,100 tons. From the perspective of the overall supply and demand of the cotton market, the reserve cotton auction started on July 5, and with the issuance of a sliding tax quota of 700,000 on July 21, the supply of cotton in the domestic market has increased, but the price of domestic cotton The downward impact is not significant, and the “cooling” effect is not obvious. On the contrary, with the continuous selling of reserves, the auction and transaction atmosphere of reserve cotton continues to be active, and the price of reserve cotton shows a fluctuating upward trend. It can be seen that the current cotton supply is still biased in terms of the entire market demand. The tight situation has actually boosted the market. After the spillover chain of the epidemic in Nanjing increased around July 26, 2021, and more confirmed cases appeared in Zhengzhou around July 31, the transportation of cotton raw materials in Henan, Jiangsu, and Xinjiang has been restricted to a certain extent in recent times, and textile companies have started operations. It is still operating at a high level, which has also led to a more serious shortage of cotton raw materials due to high cotton consumption by textile companies. As of August 6, the cotton inventory of textile enterprises has been closed for 41.6 days. Although the overall cotton raw material inventory is at a high level in recent years, the cotton raw material inventory of textile enterprises is still slightly stretched as the amount of cotton consumption continues to be large. The cotton raw material inventory of some textile companies is only about 20-30 days or even lower. As of the end of July, the year-on-year decline in domestic cotton commercial inventory has significantly expanded. The commercial inventory also includes a large amount of port imports that cannot be circulated due to quotas. Cotton inventory, so overall domestic cotton supply is still tight.
At present, the inventory of textile enterprises has declined and is at a low level, and some are still out of stock. In addition, the price of cotton yarn is synchronized With the price rising, the spot profits of textile companies remain at a high level. The spot profits of C32S are still above 1,000 yuan/ton. The production profits of cotton purchased at low prices in the early stage are higher. With low inventory and high profits, textile companies maintain high enthusiasm for production. However, due to heavy rains in Henan in late July, Zhengzhou, Xinxiang, Anyang and other places in southern Henan were severely affected. Some textile companies were affected and suspended production, and the startup rate dropped. After the heavy rain, the unaffected textile companies gradually resumed operations, but some were flooded for a short period of time. It cannot be started. In addition, there are certain problems with electricity. There are many power cuts and production cuts, and the output of pure cotton yarn is also affected to a certain extent.
July exchange rate The price of foreign exchange settlement for traders fluctuated little, but the price of imported cotton yarn increased significantly. As of August 12, imported yarn C32S closed at 27,160 yuan/ton, and Yue yarn C32S closed at 27,110 yuan/ton. Pakistan C20S closed at 23,260 yuan/ton, an increase of 160, 160, and 260 yuan/ton respectively compared with last week. The profit situation of traders is mostly good. Calculated based on one month’s operation period, the profit is 500-1500 yuan/ton. In June, my country imported 147,000 tons of pure cotton yarn, a year-on-year increase of 4.3% and a month-on-month decrease of 7.2%. The cumulative import volume from January to June was 1.064 million tons, an increase of 29.2% compared to the same period last year. In June, the arrival volume of imported yarn dropped significantly month-on-month. Although the arrival volume is expected to increase in July, sales are still acceptable, especially in the early stage of the price increase of imported yarn. After the sharp increase, the transaction volume gradually decreased, and the overall inventory decreased slightly. . The current inventory structure problem of imported yarn is still obvious. The spot stocks of C32S and OEC21S are still tight, and the spot stocks of JC32S in India are also gradually decreasing. The current quotations of traders are already on the high side, and some are obviously reluctant to sell.
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