Source: www.jintou.com
Domestic fluff 3128B price was 14,924 yuan/ton on the 2nd, down 146 yuan/ton or 0.97% from last week, according to SunSirs monitoring.cottonThe spot trading atmosphere is sluggish and the spot cotton price is falling.
Supply side: According to the national cotton trade market statistics, as of December 2, 2022, the total amount of down cotton processed in Xinjiang was 2.6889 million tons, down 25.61% year on year. At present, the overall epidemic situation in Xinjiang has improved compared with the previous period, and the speed of warehousing and public inspection has been greatly accelerated. On November 30, the volume of public inspection reached 37,000 tons. The supply of new cotton will continue As the new flower market accelerates, overall supply and demand remain slack.
Futures: As prevention and control policies adjust, the market expects the outlook for cotton consumption to improve, and pessimism has abated.Zheng MianThe futures price first fell and then rose, the main force of Zheng Mian was converted to the 05 contract, and the settlement price of the main contract on the 2nd was 13,430 yuan/ton. ICE cotton futures rose slightly, with the average settlement price of the major contract at 82.26 cents/lb, up 0.94 cents/lb or 1.2% from the previous week.
Demand side: Downstream demand is weak, and the trading atmosphere in the cotton yarn market is still weak. Many places in the mainland are in a state of market closure and rest. Textile enterprises still mainly purchase raw materials for replenishment of raw materials. At present, the inventory of finished products in the industrial chain is at a high level and continues to accumulate. Last Friday, the gray cotton cloth inventory was 38 days, and the cotton yarn inventory in the spinning enterprises was 34 days. The influence of management and control in Shandong, Henan, Hebei and other places has caused textile enterprises to actively or passively reduce the start or stop of production, and the start-up rate of textile enterprises has continued to decrease. Some companies have expressed difficulties in coping with financial pressure, difficulties in selling finished products and slow recovery of payments.
Analysis and forecast: Entering December, the overall atmosphere of the textile industry is not optimistic. The phenomenon of business closures and production halts is increasing. The new cotton market is accelerating, and supply pressure will gradually increase in the following period. The lint market is expected to remain weak and bearish.
(Article source: SunSir)
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