According to the statistics of business news agency, on March 1, the average price of domestic lint spot market was 16576 yuan / ton, while on March 11, the average price of domestic lint spot market was 15850 yuan / ton, down 4.38%. In March, the cotton market changed to a good February, and now the futures market entered a continuous decline. The domestic seed cotton settlement has come to an end, and the purchasing heat has cooled down. In 2020 / 2021, the delivery of new cotton is basically completed. At present, there is no seed cotton inventory in Northern Xinjiang, and there is a little seed cotton inventory in southern Xinjiang.
Internationally, USDA’s supply and demand report in March lowered US cotton production and year-end inventory, resulting in a sharp drop in US cotton prices and a decline of more than 4% in ice cotton. Since the beginning of this month, zhengmian’s market has been down, from a high of 16540 yuan / ton to 15600 yuan / ton. In the long run, it is expected that zhengmian’s recent decline will slow down or fluctuate.
Downstream: the profits of spinning enterprises still exist, but the speed of receiving goods has slowed down. The lower futures price in the past half a month makes the wait-and-see mood of textile enterprises gradually rise, and the yarn enterprises begin to adjust their prices. Relevant data show that in January 2021, the grey fabric inventory was 14.94 days, and the yarn inventory was 9.21 days, both of which declined year on year. The textile industry began to pick up in October last year, and textile enterprises began to arrange orders until April this year, with high production profits. At present, there is still a demand for replenishing cotton inventory.
Business analysts believe that the current textile enterprises have sufficient orders, the operating rate continues to rise, the peak demand season in spring and summer highlights, and China’s textile and garment export data from January to February 2021 remains bright, which is good for the cotton market. In the long run, if we pay attention to the trend of futures, the cotton price may fluctuate in the future.
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