According to feedback from several cotton processing enterprises and traders in Xinjiang, the recent price inquiries and transactions of Xinjiang cotton in 2020/21 have rebounded slightly compared with late November. There has also been a significant increase in point-price purchases by traders and textile mills. Buyers and sellers The psychological expectations are gradually approaching.
According to statistics, as of December 11, the number of registered warehouse receipts and valid forecasts for Zheng Cotton were 9,307 and 1,813 respectively, a decrease of 57.43% and 68.03% respectively compared with the same period in 2019. According to industry analysis, there are five main reasons for the decline in Zheng cotton warehouse receipts: First, the old cotton warehouse receipts in 2019/20 have dropped significantly compared with the previous year; second, in 2020/21, cotton traders and futures companies not only enter the market slowly and purchase less, but also sell to the mainland The delivery warehouse is not active in shipping; third, repeated epidemic outbreaks, skyrocketing freight rates and weather factors have restricted Xinjiang cotton’s highway export; fourth, the market price of Zheng cotton has just covered the cost of Xinjiang cotton in the warehouse; fifth, the mid- to late-term opportunities in 2020/21 Although cotton picking length, breaking specific strength and other indicators as well as spinnability are improved compared with October, the color grade is poor, and the warehouse receipt discount is relatively high.
Why have Xinjiang cotton spot price inquiries and transactions bottomed out recently? The judgment of trading companies in Henan, Shandong and other places: First of all, in 2020/21, affected by factors such as the new crown epidemic, the U.S. presidential election, textile and clothing exports, and the sharp appreciation of the RMB, a large number of domestic small and medium-sized cotton textile companies will follow the principle of buying as they use when purchasing raw materials. , calculated from the time point of view, it is currently entering the last round of replenishment period before the Spring Festival; secondly, Zheng cotton rose to 14,500-14,800 yuan/ton, and some Xinjiang cotton companies were under greater loan repayment pressure from December to January, and the basis price difference and spot sales were It is still the most important shipping method for ginners; thirdly, traders and futures companies are rushing to enter the market as financial costs accumulate and personnel are in place (some cotton companies plan to expand lint procurement and operation scale in 2020/21.</ p
