The drop in cotton prices did not bring much joy to Mr. Ho, who is engaged in the cotton textile industry.
“Compared with last year, the price of cotton has indeed fallen a lot, but the price of cotton yarn has fallen even further, and the decline has far exceeded that of cotton.†Mr. Ho, the supply and marketing minister of a large-scale cotton textile company in Suining City, Sichuan Province, said yesterday. At the beginning of this year, 40 cotton yarns were sold at the highest price of 48,000 yuan/ton, and now they are only sold at 28,000 yuan/ton. In addition, the sales volume of cotton yarn also decreased significantly compared with the beginning of the year.
Mr. Ho said that the current situation of spinning cotton enterprises is more difficult, and the situation of spinning-polyester-cotton enterprises is more difficult. Some local enterprises have started to limit production losses.
Yesterday (November 9th), China Reserve Cotton Management Corporation (hereinafter referred to as “China Reserve Cottonâ€) wrote on the website of the SASAC that recently, the downstream consumption has not been improved, the company’s yarn and cloth inventory have increased, the capital has tightened, and the company’s price cuts Sales pressure was high and cotton yarn prices continued to fall. Affected by the drop in upstream PTA prices, the price of polyester staple fiber decreased significantly. The operating rate of textile enterprises decreased, raw materials procurement was weak, and domestic cotton prices fell slightly.
Since the cotton price roller coaster from January this year, domestic cotton prices have shown a "V" shape. The China Cotton Price Index rose from RMB 27,516/ton on January 4 to RMB 31,241/ton on March 8. Since then, "a drastic change", the cotton price has turned sharply, April 29 was 29,852 yuan / ton, June 14 cotton prices fell to 24,551 yuan / ton. Yesterday (November 9), the China Cotton Price Index (CCIndex328) has plummeted to 19,271 yuan/ton.
In addition, public data shows that this year's national cotton harvest is expected to reach 7.38 million tons of total national cotton, an increase of 10.9% over the previous year.
According to common sense, the cotton harvest is good news for cotton farmers, cotton enterprises, and textile companies. However, in the cotton industry Chain, a strong wait-and-see mood is filling.
"At the beginning of the year, cotton was not only very expensive but also very tight. At that time, our company also sent someone specializing in the acquisition of cotton in Xinjiang." Mr. Ho said that nowadays, cotton traders are rushing to the textile mills to sell cotton.
“Because of the tight funding and the expected short-term increase in cotton prices, we are cautious when purchasing cotton. We basically buy as much as we can.†Mr. Ho said that his company has not been low in cotton prices. And hoarding cotton.
In Mr. Ho’s view, the changes in cotton prices this year are uncertain, and most of the enterprises in the early days of the cotton industry suffered heavy losses. Many companies have already speculated that cotton has become scared.
“Last year's cotton prices rose, cotton farmers benefited, planting area increased significantly, planting intentions are strong, but the cotton harvest farmers reluctant to sell psychology is heavier, while the cotton industry purchase intentions are not strong, lower prices, the cotton trading market to stabilize mainly.†Oriental Ignatius analyst Xiong Kuan said in an interview with the reporter of “Daily Economic News†yesterday that in October, with the large number of seed cottons listed, the price of seed cotton continued to decline, and the sustained economic downturn in Europe and the United States kept the demand of textile companies low. The price is facing upward pressure.
Zhu Qingyu, a research fellow at China Investment Consulting Group, said that farmers have a higher psychological expectation for this year's cotton prices, and many farmers have said that they are not selling at less than 4.5 yuan/kg.
The quantity and price of cotton yarn fell steadily on November 9. According to the author of China Reserve Cotton, on the 4th of November, 32 cotton combed yarns were offered at 26,870 yuan/ton, which was 200 yuan/ton lower than last week, a decrease of 0.7%; polyester staple fiber The quotation was 1,1950 yuan/ton, which was 550 yuan/ton lower than last week, a decrease of 4.4%. The average purchase price of China's Grade 3 seed cotton was 4.11 yuan/kg (the purchase price of klint was 18210 yuan/ton), a decrease of 0.05 yuan/kg from the previous week, a decrease of 1.2%; the average purchase price of Xinjiang 3rd grade seed cotton was 4.14 yuan/kg (a purchase of klint cotton) Price 18,267 yuan / ton), down 0.06 yuan / kg from the previous week, a decrease of 1.4%. The national cotton price B index representing the average sales price of standard lint inland of the Mainland was 19,316 yuan/ton, down 129 yuan/ton or 0.7% from the previous week; the average price of Xinjiang standard lard sales was 19,637 yuan/ton, down 116 yuan from the previous week. / Ton, a decrease of 0.6%. Zhengzhou Cotton ** November contract settlement price 19345 yuan / ton, compared with last week fell 135 yuan / ton, a drop of 0.7%; national cotton trading market electronic matching transactions in November contract average price 18883 yuan / ton, down 204 yuan from last week / Ton, a decrease of 1.1%.
"The price of cotton yarn has fallen too sharply, and it is now approaching the cost line." Mr. Ho said that if cotton yarn prices continue to fall, their company can only face the dilemma of loss.
Mr. Ho said that when cotton prices are at a high level, some textile companies reduce the textile volume of pure cotton yarns in order to reduce the pressure on the funds and increase the spinning volume of polyester cotton and chemical fiber. At present, sales of polyester and cotton have plummeted, and some companies have serious stockpiles. “The days of these companies are now more sad than we are. Some textile mills have stopped production to reduce losses.â€
Xiong Kuan said that when cotton prices were high, chemical fiber became a substitute for cotton. At present, the price of cotton is at a low level. At this stage, the supply of cotton is abundant, resulting in a strong desire of the textile and processing industry to increase the ratio of cotton blending. Therefore, the substitution effect of chemical fiber has declined.
Xiong Kuan said that according to his understanding, the number of textile companies that have lost money since they entered the market in October has gradually increased.
“At present, the production and sales of China's textile industry is in a downturn, with sluggish sales of yarn and cloth, a rebound in finished product inventories, an increase in the number of production cuts and production restrictions, and difficulty in stimulating the purchase of cotton.†Zhong Cun’s article says that, in addition, domestic trading volume in recent days Even with a record high, the enthusiasm of the cotton enterprises to pay for deposits has increased significantly, which is a reflection of the weak demand for downstream cotton. As domestic consumption and demand for cotton cannot be quickly rebounded, the spot price of cotton is expected to further weaken.
The International Cotton Advisory Committee (ICAC) released its global production and demand forecast for November. It is estimated that global cotton consumption in 2011/12 will be 24.6 million tons, down 120,000 tons from the previous month. This year, global production exceeded 2.3 million tons of consumption, and the ratio of inventory to consumption (excluding China) is expected to rise to 55%. The recent US cotton export report shows that in the week of 21-27 October 2011, the net contracted export volume of U.S. upland cotton in 2011/12 was 20,900 tons, a decrease of 66,400 tons from the previous week.
China Reserve Cotton said that at the recent G20 summit, leaders of various countries failed to reach an agreement on the resolution of the European debt crisis through the International Monetary Fund (IMF), and the debt crisis in the euro zone has not yet been resolved. , Market confidence is difficult to restore, coupled with the global cotton supply than the need to continue to form a pressure on the international cotton prices, cotton prices are still difficult to get rid of the weak trend, is expected to maintain the weak oscillation in the near future.
“Compared with last year, the price of cotton has indeed fallen a lot, but the price of cotton yarn has fallen even further, and the decline has far exceeded that of cotton.†Mr. Ho, the supply and marketing minister of a large-scale cotton textile company in Suining City, Sichuan Province, said yesterday. At the beginning of this year, 40 cotton yarns were sold at the highest price of 48,000 yuan/ton, and now they are only sold at 28,000 yuan/ton. In addition, the sales volume of cotton yarn also decreased significantly compared with the beginning of the year.
Mr. Ho said that the current situation of spinning cotton enterprises is more difficult, and the situation of spinning-polyester-cotton enterprises is more difficult. Some local enterprises have started to limit production losses.
Yesterday (November 9th), China Reserve Cotton Management Corporation (hereinafter referred to as “China Reserve Cottonâ€) wrote on the website of the SASAC that recently, the downstream consumption has not been improved, the company’s yarn and cloth inventory have increased, the capital has tightened, and the company’s price cuts Sales pressure was high and cotton yarn prices continued to fall. Affected by the drop in upstream PTA prices, the price of polyester staple fiber decreased significantly. The operating rate of textile enterprises decreased, raw materials procurement was weak, and domestic cotton prices fell slightly.
Since the cotton price roller coaster from January this year, domestic cotton prices have shown a "V" shape. The China Cotton Price Index rose from RMB 27,516/ton on January 4 to RMB 31,241/ton on March 8. Since then, "a drastic change", the cotton price has turned sharply, April 29 was 29,852 yuan / ton, June 14 cotton prices fell to 24,551 yuan / ton. Yesterday (November 9), the China Cotton Price Index (CCIndex328) has plummeted to 19,271 yuan/ton.
In addition, public data shows that this year's national cotton harvest is expected to reach 7.38 million tons of total national cotton, an increase of 10.9% over the previous year.
According to common sense, the cotton harvest is good news for cotton farmers, cotton enterprises, and textile companies. However, in the cotton industry Chain, a strong wait-and-see mood is filling.
"At the beginning of the year, cotton was not only very expensive but also very tight. At that time, our company also sent someone specializing in the acquisition of cotton in Xinjiang." Mr. Ho said that nowadays, cotton traders are rushing to the textile mills to sell cotton.
“Because of the tight funding and the expected short-term increase in cotton prices, we are cautious when purchasing cotton. We basically buy as much as we can.†Mr. Ho said that his company has not been low in cotton prices. And hoarding cotton.
In Mr. Ho’s view, the changes in cotton prices this year are uncertain, and most of the enterprises in the early days of the cotton industry suffered heavy losses. Many companies have already speculated that cotton has become scared.
“Last year's cotton prices rose, cotton farmers benefited, planting area increased significantly, planting intentions are strong, but the cotton harvest farmers reluctant to sell psychology is heavier, while the cotton industry purchase intentions are not strong, lower prices, the cotton trading market to stabilize mainly.†Oriental Ignatius analyst Xiong Kuan said in an interview with the reporter of “Daily Economic News†yesterday that in October, with the large number of seed cottons listed, the price of seed cotton continued to decline, and the sustained economic downturn in Europe and the United States kept the demand of textile companies low. The price is facing upward pressure.
Zhu Qingyu, a research fellow at China Investment Consulting Group, said that farmers have a higher psychological expectation for this year's cotton prices, and many farmers have said that they are not selling at less than 4.5 yuan/kg.
The quantity and price of cotton yarn fell steadily on November 9. According to the author of China Reserve Cotton, on the 4th of November, 32 cotton combed yarns were offered at 26,870 yuan/ton, which was 200 yuan/ton lower than last week, a decrease of 0.7%; polyester staple fiber The quotation was 1,1950 yuan/ton, which was 550 yuan/ton lower than last week, a decrease of 4.4%. The average purchase price of China's Grade 3 seed cotton was 4.11 yuan/kg (the purchase price of klint was 18210 yuan/ton), a decrease of 0.05 yuan/kg from the previous week, a decrease of 1.2%; the average purchase price of Xinjiang 3rd grade seed cotton was 4.14 yuan/kg (a purchase of klint cotton) Price 18,267 yuan / ton), down 0.06 yuan / kg from the previous week, a decrease of 1.4%. The national cotton price B index representing the average sales price of standard lint inland of the Mainland was 19,316 yuan/ton, down 129 yuan/ton or 0.7% from the previous week; the average price of Xinjiang standard lard sales was 19,637 yuan/ton, down 116 yuan from the previous week. / Ton, a decrease of 0.6%. Zhengzhou Cotton ** November contract settlement price 19345 yuan / ton, compared with last week fell 135 yuan / ton, a drop of 0.7%; national cotton trading market electronic matching transactions in November contract average price 18883 yuan / ton, down 204 yuan from last week / Ton, a decrease of 1.1%.
"The price of cotton yarn has fallen too sharply, and it is now approaching the cost line." Mr. Ho said that if cotton yarn prices continue to fall, their company can only face the dilemma of loss.
Mr. Ho said that when cotton prices are at a high level, some textile companies reduce the textile volume of pure cotton yarns in order to reduce the pressure on the funds and increase the spinning volume of polyester cotton and chemical fiber. At present, sales of polyester and cotton have plummeted, and some companies have serious stockpiles. “The days of these companies are now more sad than we are. Some textile mills have stopped production to reduce losses.â€
Xiong Kuan said that when cotton prices were high, chemical fiber became a substitute for cotton. At present, the price of cotton is at a low level. At this stage, the supply of cotton is abundant, resulting in a strong desire of the textile and processing industry to increase the ratio of cotton blending. Therefore, the substitution effect of chemical fiber has declined.
Xiong Kuan said that according to his understanding, the number of textile companies that have lost money since they entered the market in October has gradually increased.
“At present, the production and sales of China's textile industry is in a downturn, with sluggish sales of yarn and cloth, a rebound in finished product inventories, an increase in the number of production cuts and production restrictions, and difficulty in stimulating the purchase of cotton.†Zhong Cun’s article says that, in addition, domestic trading volume in recent days Even with a record high, the enthusiasm of the cotton enterprises to pay for deposits has increased significantly, which is a reflection of the weak demand for downstream cotton. As domestic consumption and demand for cotton cannot be quickly rebounded, the spot price of cotton is expected to further weaken.
The International Cotton Advisory Committee (ICAC) released its global production and demand forecast for November. It is estimated that global cotton consumption in 2011/12 will be 24.6 million tons, down 120,000 tons from the previous month. This year, global production exceeded 2.3 million tons of consumption, and the ratio of inventory to consumption (excluding China) is expected to rise to 55%. The recent US cotton export report shows that in the week of 21-27 October 2011, the net contracted export volume of U.S. upland cotton in 2011/12 was 20,900 tons, a decrease of 66,400 tons from the previous week.
China Reserve Cotton said that at the recent G20 summit, leaders of various countries failed to reach an agreement on the resolution of the European debt crisis through the International Monetary Fund (IMF), and the debt crisis in the euro zone has not yet been resolved. , Market confidence is difficult to restore, coupled with the global cotton supply than the need to continue to form a pressure on the international cotton prices, cotton prices are still difficult to get rid of the weak trend, is expected to maintain the weak oscillation in the near future.
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