March Is The Peak Season For Textile And Clothing Sales, And Cotton Consumption Tends To Be Higher.

According to the formula of reserve cotton reserve and reserve price, the reserve reserve price since February is 15400-15500 yuan / ton, lower than the price of new cotton.

In view of this, most cotton enterprises do not move at all.

The turnover rate of the first day and the next day is 100%.

Judging from the nature of paction enterprises, textile enterprises account for nearly 70%.

Affected by the hot turnover of cotton reserves in March 6th, the main contract for May was up to 16465 yuan / ton.

We believe that the above point will attract a large number of guaranteed access.

In accordance with the 3 month holding period and 60% positions, the registration cost of the warehouse receipt in May is about 240 yuan / ton. Even if it is added to the short distance pportation cost, the warehouse receipt price is calculated at 16400 yuan / ton according to the 3128 standard lint price index.

In addition, the average price of cotton reserve in March 6th was converted to 328 lint price, which reached 16640 yuan / ton, higher than the new cotton standard lint price index of 675 yuan / ton; in March 7th, the average price of cotton reserve was converted to 328 grade lint price, which was 16449 yuan / ton, higher than the new cotton standard lint price index 484 yuan / ton.

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From the above point of view, the price of reserve cotton has no comparative advantage.

According to the calculation of 30 thousand tons per trading day, the state put 600 thousand tons of reserve cotton into the market in March, equivalent to the domestic cotton consumption in 1 months.

According to the survey data of China Cotton Association logistics branch, as of January, domestic cotton business inventories were 2 million 678 thousand tons.

In the absence of new cotton market and consumption of 600 thousand tons in February, the supply of cotton in March was about 2 million 600 thousand tons.

Compared with the initial period of last year, about 1 million tons.

Last 2-4 months in China

The average monthly industrial inventory is about 300 thousand tons, and before this year, the stock of cotton industry exceeds 600 thousand tons.

Coupled with the difference in industrial inventories, the gap between supply and output of early last year was greater than that of the beginning of this year.

March is the peak season for textile and clothing sales, and cotton consumption tends to be higher.

In general, after the Lantern Festival, raw materials are purchased from the lower reaches to prepare for the peak season.

However, this phenomenon has been broken this year.

Last year, it announced the policy of dumping and storage, making it clear that cotton reserves would be launched in March 6th this year.

Against this background, the small peak of the replenishment bank is pushed back.

Due to the uncertainty of policy and base price, the downstream wait-and-see sentiment was strong, and only a small number of cotton enterprises were purchasing.

After throwing the boot, the downstream replenishment.

Concentrated release.

Reserve cotton with price comparative advantage has become the object of competition.

In the short term, the cotton reserves will not be substantially cooled.

As of 23 February, the US cotton contracted volume accounted for 94% of the annual planned export volume, and was about to complete the export task for the current year. In the late period, the impact of India cotton and cotton on its price weakened.

On the India side, the new cotton day listing volume is about 30 thousand tons, and the listing progress is comparable with that of the same period last year, but the spot price remains high.

Compared with the same period last year, the spot price of S-6 rose by 30%, while the US cotton market was about 82.8 cents / pound, a record high since November 2016.

To sum up, the domestic commercial inventories and industrial inventories increased substantially compared to last year, and the warehouse receipts at the top of 16400 yuan / ton had already made profits.

In addition, throwing the reserve price and the international cotton price linkage, coupled with the arrival of the textile peak season, Zheng cotton is also difficult to fall.

For more information, please pay attention to the world clothing shoes and hats net report.