Pay Attention To The Price Fluctuation Of International And Domestic Cotton Market

2021/10/26 0:52:00 0

Supply and demand / expectation: USDA global cotton supply and demand report in October: output increased by 151000 tons, consumption decreased by 159000 tons, and ending inventory increased by 98000 tons. The report was slightly empty and the consumption cut exceeded market expectations.

Sales / Inventory: (International) US cotton's sales this week are still strong by China's purchasing. (domestic) "golden nine silver ten" consumption peak season did not come as scheduled. The power restriction affected the downstream production. Affected by the early reserve rotation and the recent cotton price surge, the willingness of downstream replenishment was reduced, and the gauze inventory was low, but it was accumulated at present.

Price / price difference: the current price of reserve cotton is the lowest, and the average transaction price of Xinjiang reserve is 19500 yuan / ton, which is nearly 2000 yuan lower than the spot price. The current price difference is about 1000 yuan this week, and that of cf1-5 is 655 yuan.

Cost / profit: the low cost of mechanical mining is 22000 yuan / ton. The theoretical profit of spinning this week is 680 yuan / ton.

The purchase of machine picked cotton in Xinjiang has turned from a standstill to normal, with a slight decrease in price, which is expected to be supported by 10 yuan / kg. Under the influence of stricter supervision, commodities generally fell, and Zheng Mian was not spared. Due to the surplus of ginning plants, the probability of the purchase price falling sharply is low.