01
Index
02
Cotton
According to import treasure monitoring, the spot price of lint 328 is 13,242 yuan/ton, an increase of 50 yuan/ton from last week’s 13,192, an increase of 0.38%. The closing price of the May 2020 futures contract was 13,645, an increase of 245 points, or 1.83%, from 13,400 last week.
Zheng cotton futures prices fluctuated this week, and prices increased significantly over the weekend. In the fourth week (12.23-12.27), the maximum price for Xinjiang cotton in-wheel bidding was 13,522 yuan/ton, an increase of 97 yuan/ton from last week. However, due to the increasing bullish mentality of enterprises, the enthusiasm for sales is relatively low, and some cotton processing enterprises are reluctant to sell while raising prices. This week, 35,000 tons of cotton reserves were planned to be transferred, but a total of 1,680 tons were actually traded, with a transaction rate of only 4.8%. In terms of new flower processing, as of December 26, Xinjiang had processed a total of 4.576 million tons of lint cotton, a year-on-year increase of 1.24%. In terms of commercial inventories, according to a survey by the Logistics Branch of the China Cotton Association, the total national commercial cotton turnover inventory at the end of November was approximately 4.4967 million tons. In November, my country imported 110,000 tons of cotton, a decrease of 15% year-on-year. Recently, the price difference between domestic and foreign cotton has been small, and the enthusiasm for purchasing imported cotton has declined. Textile companies mostly adopt a buy-as-you-go strategy when purchasing cotton, unless cotton of a higher grade needs to prepare some inventory. In terms of warehouse receipts, as of December 27, Zheng Cotton has generated 25,879 (+598) warehouse receipts, with a valid forecast volume of 5,323, equivalent to a total of 1.248 million tons of cotton. The market is still suppressed by a large number of warehouse receipts. Once the price rises sharply, the enthusiasm for selling on futures will increase.
From December 13 to 19, 2019, the average spot price of standard grade in the seven major domestic markets in the United States was 62.46 cents/pound, an increase of 0.86 cents/pound from the previous week and a decrease from the same period last year. 10.66 cents/lb. That week, 109,251 bales were traded in the seven major domestic spot markets in the United States, bringing the total transaction volume this year to 711,368 bales. Spot prices in various regions of the United States increased. Foreign inquiries in the Texas region were light. Foreign inquiries in the Western Desert and Covenant regions were light. Pima cotton prices were stable. That week, domestic textile mills in the United States purchased a small amount of grade 4 cotton for shipment from January to March next year, and there were also inquiries for grade 4 cotton for shipment from June to December. Most factories have a few days off for the Christmas and New Year holidays, and some warehouses plan to have holidays. Two weeks. U.S. cotton exports are normal, and Pakistan has purchased grade 4 cotton for immediate shipment. There is good demand for various low-price varieties throughout the Far East. In the past week, cotton and chemical fiber prices in India were stable, and cotton yarn prices remained strong. Since cotton prices have basically stopped falling, cotton mills have not been able to lower their product quotations. The acquisition by India’s CCI has made the domestic cotton market price higher than MSP.
U.S. cotton prices are expected to strengthen recently, and market bullishness has also increased recently. Import Bao believes that the overall trend of Zheng cotton prices will remain volatile and slightly stronger.
03
Viscose staple fiber
Viscose staple fiber manufacturers continue to lower prices and release orders, and downstream users are more enthusiastic about bargain hunting. The reserve inventory before the Spring Festival is 1-2 months. The industry inventory pressure is gradually easing, and prices are expected to be Start to go steady. The current price of mid-range viscose staple fiber is 9,400-9,600 yuan/ton, and the price of high-end viscose staple fiber is 9,600-9,800 yuan/ton.
Cotton linters prices rose slightly due to cost support. The price of long velvet is 3650-3750 yuan/ton in Shandong and 3200-3300 yuan/ton in Xinjiang. The price of domestic dissolving pulp is weak. Some pulp mills have raised their prices by 200 yuan/ton due to continued losses. The negotiated price of broadleaf pulp is 5,300-5,400 yuan/ton, and the negotiated price of softwood pulp is 54,000-5,500 yuan/ton. The price of dissolving pulp in the external market is temporarily stable. The price of mainstream broadleaf pulp mills in the external market is 640-650 US dollars/ton, and the price of softwood pulp is 660-670 US dollars/ton. The actual order negotiation is slightly lower than 5-10 US dollars/ton.
Import Bao believes that the price of viscose staple fiber remains low and stable, and some chemical fiber manufacturers continue to place orders at low prices.
04
Australian Wool Auction Week 26 (2019/12/26)
The Australian wool auction is closed this week. The auction will resume on January 13, 2020.
05
Cotton yarn
Cotton yarn spot product prices remain relatively stable, normal The shipment of carded yarn is acceptable, the price of combed cotton yarn is stable but falling, and the shipment of high-count compact spinning yarn is relatively smooth. According to customs statistics, my country imported 160,000 tons of cotton yarn in November 2019, an increase of 6.67% from the previous month and the same as last year. The sales of viscose staple fiber have improved recently, and the price of viscose yarn has also shown signs of improvement. The price of polyester yarn has remained relatively stable recently. The price of C32S in Shengze yarn market is 20,200 yuan/ton, and the price of C40S is 21,300 yuan/ton.
Import Bao believes that cotton yarn futures prices will fluctuate with Zheng cotton prices in the short term.
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