According to the survey, affected by the wide oscillation of Zheng cotton in February, the domestic cotton market situation has undergone the following changes. First, there was no large-scale downstream replenishment after the holiday, and the raw material procurement period was extended; second, traders The high quality requirements for Xinjiang cotton have led to difficulties in trading a certain proportion of low-index Xinjiang cotton in Xinjiang’s regulatory warehouses; third, the “fixed price” of lint cotton sold by traders in Xinjiang has been significantly reduced, and basis sales have dominated; fourth, regardless of the sharp rise in cotton prices Still falling sharply, cotton processing companies have a strong reluctance to sell; fifth, domestic cotton prices are obviously differentiated, with the price or transaction price of lint of the same quality differing by 100-200 yuan/ton.
It is understood that from February 26th to 28th, the quotations for Xinjiang machine-picked cotton at grade 31 “Double 28” in Henan, Jiangsu, Shandong and other inland warehouses were concentrated at 16,900-17,100 yuan/ton (gt. weight), the quoted price of “Double 28” machine-picked cotton in Xinjiang’s supervision warehouse is 16,400-16,600 yuan/ton. After the Spring Festival, Xinjiang cotton road transportation quickly resumed, and railway shipments continued to develop. The price difference between cotton prices inside and outside Xinjiang narrowed to 400-500 yuan/ton. Xinjiang cotton shipments by traders, Xinjiang ginners and mainland cotton textile mills showed a rebound trend. A medium-sized cotton company in Xinjiang Cotton said that the main contract of Zheng Cotton has retreated from above 17,000 yuan/ton to around 16,500 yuan/ton. The adjustment is a reasonable demand for rapid growth after the Spring Festival, which will help cotton companies speed up lint cotton in March and April. Sales progress and funds withdrawn. The hedging ratio of the company’s unsold lint cotton in the warehouse has reached more than 80%. As Zheng Mian continues to hit new highs, the pressure on companies to make margin calls is relatively high. </p
