SunSirs--China Commodity Data Group

Member ID: password: Join Now!
Commodity News

SunSirs: Approaching the Spring Festival, Chinese Textile Market Atmosphere Weakens, Cotton Market Fluctuates at a High Level

January 24 2022 09:19:26     SunSirs (Linda)

1. Price quotations

On January 21, the price of 3128B lint cotton was around 22,706 yuan/ton, up 237 yuan/ton from last weekend, up 3.01% month-on-month.

2. Market analysis

The cotton market rose last week, and the current international cotton price is strong. The Zhengzhou cotton market has risen continuously, and the spot market has risen accordingly. On the 21st, the average price of domestic cotton price index 3128B was 22,654 yuan/ton, up 194 yuan/ton from last weekend. The futures market fluctuated and rose. On the 21st, the settlement price of the main cotton contract in Zhengzhou was 21,670 yuan/ton, an increase of 400 yuan/ton from last weekend. The Spring Festival is approaching, the downstream cotton yarn spot market is weak, weaving factories are on holiday one after another, the operating rate of looms is gradually declining, and the market is in the finishing stage.

Internationally, according to the December balance sheet of the Indian Cotton Association, the supply-side 21/22 year is expected to reduce the inventory at the beginning of the period by 40% year-on-year, and the output is slightly reduced by 1.4%. Support the international cotton price. In terms of US cotton, ICE cotton futures rose more than 120 cents last week, the March contract on the 20th was 122.87 cents, and the May contract was 119.67 cents. On the 21st, the international cotton index (M), which represents the average price of imported cotton from China's main port to CIF, was 139.15 cents/lb, up 6.01 cents/lb from last weekend.

3. Downstream Industry Chain

Last week, the cotton yarn market continued to rise. As the Spring Festival approached, the trading atmosphere of the cotton yarn market weakened. Weaving enterprises were on holiday one after another, and textile enterprises entered the final stage. Although the downstream demand is weak, but affected by the strong cotton market, the price of cotton yarn is still running at a high level. The grey cloth end has basically stopped shipping, the number of textile enterprises on holiday has increased, and the overall performance has been stable. The price of weaving factories may increase after the year under cost pressure.

4. Prediction

The cotton spinning market is at the end of the year. At present, the cotton market is at a high level. The market is generally optimistic about the market after the year. It is expected that the cotton market will remain high and volatile before the year.

If you have any questions, feel free to contact SunSirs with support@sunsirs.com.

Energy
Chemical
Rubber & plastics
Textile
Non-ferrous metals
Steel
Building materials
Agricultural & sideline products