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SunSirs: Cotton Prices Continued to Be Weak and Down, and There Was No Upward Momentum in the Short Term
May 26 2022 14:07:03SunSirs(John)

Price trend

According to the data of SunSirs, the price of 3128B cotton lint on the 25th was about 21,908 RMB/ton, down 2.65% from the previous month.

Analysis review

On the 25th, the average price of domestic cotton price index 3128B was 21,888 RMB/ton, down 78 RMB/ton from the previous day. On the 23rd, Zhengzhou cotton futures broke the support of the 21000 integer mark. After the continuous decline in futures prices, some textile companies continued to purchase slightly.

Recently, cotton prices have been in a pattern of external strength and internal weakness. At present, US cotton and printed cotton are weakening. After the lack of the blessing of the foreign cotton market, coupled with the off-season of the domestic textile industry, the demand side has not improved. The data shows that the cotton consumption in 2021/22 is expected to be lowered to 7.95 million tons, a decrease of 100,000 tons from the previous period and a year-on-year decrease of 5.7%.

Market outlook

The inventory of cotton yarn and grey fabrics continues to be high, the terminal demand is not good, and the cotton price support is insufficient. It is expected that the cotton market will continue to be weak in the short term.

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