The Epidemic Is Improving Gradually, And Cotton Prices Are Expected To Rise Upward.

2020/2/11 12:22:00 0

Epidemic Situation Cotton Price Concussion

Last week (February 3-7), global stock market commodities fell, Zheng cotton on Monday (3) opened panic limit, last Tuesday opened sharply lower. In order to stabilize the market expectations, the relevant state departments promptly arranged a large increase in the number of imported cotton reserves, and gradually restored market confidence, and cotton prices quickly stabilized. Due to the extension of Spring Festival holidays, the gauze enterprises have not started yet, and the spot market is in a closed market.

Since February 10th, textile enterprises have begun to resume work gradually, but due to the end of the epidemic, the progress of resuming work will be slower than in previous years, and cotton consumption will be affected in the short term. Cotton substitute polyester price 6850 yuan / ton, viscose price 9600 yuan / ton, low level consolidation. Cotton price CNCottonB index price 13405 yuan / ton, compared with Zheng cotton futures CF2005 contract, spot premium 270 yuan / ton.

On the spot. Before the holiday, most of the cotton mills in the futures market completed the replenishment of the rigid demand. The Spring Festival holiday was extended, and the spot market was in a closed market condition. During the factory holidays, the state increased the number of new cotton imports and increased market confidence and stability. The market expected that 65800 tons of turnover were made during the week, which exceeded the total volume of transactions in the first 8 weeks and achieved good results.

Acquisition of new cotton. As of February 7th, 956 enterprises in the country declared 5 million 20 thousand tons of public inspection, increased by 10 thousand tons per week, and no new enterprises were added, indicating that the acquisition and processing of new cotton was basically over.

This week, the factory began to gradually resume work, the epidemic is also expected to gradually improve, consumption gradually recovered, and China and the United States have signed agreements in an orderly manner, cotton prices are expected to shock upward.