Last week, the main contract of Zheng cotton futures, 2105, broke through the previous high, rising to a high of 15,610 yuan/ton, and then fell again on Friday. Today, the market continued to be weak and volatile, with the low reaching 15,175 yuan/ton. The wide adjustment of Zheng cotton has tightened the mentality of all parties in the market. Some manufacturers and traders have accelerated promotions, while textile enterprises have adjusted the pace of stocking as needed and increased the procurement of low-price basis sources appropriately.
As far as the current market situation is concerned, the purchase and sale of yarn is still more active than that of cotton. Some textile, printing and dyeing companies are speeding up production to make up for the losses caused by the epidemic in the first half of last year, and some companies are rushing to make orders before the Spring Festival as soon as possible. Increase boot volume. Although the New Year is approaching and some companies have begun to prepare for Spring Festival vacations, most companies in production have not relaxed this short-term “gold-making” opportunity. As the price of raw cotton generally shows an upward trend, especially after Zheng cotton exceeded 15,500 yuan/ton last week, the prices of some yarns and gray fabrics have also been raised accordingly, and the profits of gauze production have improved significantly compared with last year. Therefore, downstream production and sales are relatively acceptable, which has supported recent cotton consumption to a certain extent.
Zheng Cotton’s correction after this surge may be mainly caused by the fear of heights caused by a short-term rapid rise, as well as increased industrial hedging pressure, coupled with increased concerns about the domestic epidemic and other factors. Since last year, the recovery of domestic textile and apparel foreign trade has not been obvious. At present, some export-oriented textile companies say that the increase in foreign trade orders is not obvious, and in order to avoid the risk of default, large-scale orders cannot be signed. While cotton prices continue to rise, some industries are worried that It is an illusion of “false high”. In addition, the registration of Zheng cotton warehouse receipts has continued to increase recently, which has also put some pressure on the market. However, the domestic epidemic is spreading in sporadic ways, and all parties have successively strengthened prevention and control. As a result, logistics and shipments and residents’ outings have been affected to varying degrees, and the mentality of cotton market operators has become cautious.
The short-term domestic and foreign epidemic prevention and control is severe, and there are variables in the sustainability of downstream orders and the room for cotton consumption to rebound. After Zheng Cotton’s correction, whether it is gaining momentum or going sideways requires close attention. The following changes in the above-mentioned related factors. </p
