Zheng Mian Chong high to 13800 yuan/ton near concussion
Early last week, Zheng Mian was boosted by the Federal Reserve chairman's clear signal that the interest rate cut is coming, and the main contract rose to near 13,800 yuan/ton; Late week, with a small number of new cotton picking, production expectations continued, cottonseed prices fell, the market for new cotton prices expected to be weak, coupled with the textile market new orders and sales recovery is limited, some textile enterprises still have price reduction promotion behavior, insufficient price support, cotton prices fell after a small surge.
The traditional peak season is coming, and the yarn price is difficult to rise
The traditional peak season is coming, although the recent production and sales situation of textile enterprises has improved, but small and medium-sized enterprise orders are still stretched, facing a certain inventory pressure, some textile enterprises exist to throw goods behavior, resulting in the recent yarn price overall rise in difficulty. At present, there are differences in the profit situation of enterprises spinning, some of the raw materials and finished products inventory level is low, spinning has been in a flat state of profit and loss, but some of the inventory for a long time still face certain losses. The confidence of enterprises in the coming traditional peak season is weak, the replenishment of raw materials is insufficient, and the excess capacity of the industry still exerts a certain pressure on yarn prices.
Future market outlook
Judging from the operation of the international cotton market, the Federal Reserve's interest rate cut in September is basically determined. The market has fully traded on the interest rate cut, while the US dollar has risen again under the influence of geopolitical tensions, jointly putting pressure on international cotton prices. At present, the impact of climate conditions on new cotton is limited, and the demand for cotton market in the United States is still weak, the market temporarily lacks stimulus to boost factors, cotton prices may continue to run weak. From the perspective of the operation of the domestic market, a small number of new cotton picking in Xinjiang, the increase in production is basically a foregone conclusion, in the case of weak market demand expectations, cotton farmers' high costs and processing plant risk prevention expectations or make the acquisition delayed, the current price expectations are also weak overall. The textile market is about to enter the traditional peak season, and the probability of some spinning enterprises to open up and supply to increase, but weaving enterprises and traders to replenish inventory and market expectations are weak, which restricts yarn prices, and the domestic cotton and cotton yarn market will remain weak in the short term.
Declaration: The content of this article is organized from the Internet, and the copyright belongs to the original author; If there is infringement, please inform in time and contact to delete.
The traditional peak season will be the production and marketing situation of textile enterprises has improved
