SunSirs: Report Data of USDA Was Repaired in September, Cotton Spot Market Was Stable
September 16 2022 15:39:43 SunSirs (John)
Price trend
On the 15th, the price of 3128B lint was 15,650 yuan/ton, down 0.50% month on month.
Analysis review
The spot market price of domestic cotton is mainly stable. Cotton enterprises are highly motivated to sell, have more resources, and the price is relatively stable. In September, the USDA supply and demand report was somewhat empty. The report increased the global cotton output by 314,000 tons, decreased the global cotton consumption by 100,000 tons, and increased the global cotton inventory by 15,000 tons, which was in line with market expectations. The downward pressure eased slightly in the short term.
Downstream demand improved, gauze inventory declined, textile enterprises' operating rate increased, and cotton shipments accelerated. The market began to show the characteristics of peak season. However, due to the downturn in the global terminal consumer market, the overall textile order was poor.
Market outlook
As the listing date of new cotton is approaching, the domestic supply pressure will gradually increase. Pay attention to the downstream order placement. It is expected that the cotton market will fluctuate mainly in the short term.
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