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All parties reached a consensus on Zheng cotton and Zheng cotton yarn that will usher in a "good start" after the festival
Release date: [2024/2/20]  Read total of [78] times

China Cotton network special news: The Spring Festival holiday ICE cotton futures continued a strong rebound momentum, after the festival, some textile enterprises cotton yarn quotation opened up the rhythm and the industrial chain is full of expectations for the arrival of cotton textile and clothing industry "gold three silver four" (including export traceable orders, home textile domestic and export sales orders), all parties to Zheng cotton after the festival, Zheng cotton yarn will welcome the "opening red" reached a consensus.

Some cotton processing enterprises, cotton merchants, and speculators judge that the focus of the short-term Zheng cotton main CF2405 contract is expected to move up to the 16500-17000 yuan/ton range, which will give North Xinjiang Ginners and some cotton trading enterprises ample hedging or the opportunity to ship at a reasonable price.

From the survey point of view, with the rise of Zheng cotton, cotton companies mostly did not adjust the basis, and the spot price rose with CF2405. On February 19, the supervision library in Xinjiang "double 28" (or single 29, single 30, main grade 31) machine-picked cotton price was 16750-16850 yuan/ton; "Double 29" machine cotton weight quote 16850-16950 yuan/ton, for most of the cotton gin enterprises in Xinjiang, even considering the three months of financial costs, warehousing costs, transaction delivery and other expenses, choose CF2405 contract hedging and delivery, production and sales are no longer "upside down" and even have a certain profit.

However, some cotton companies believe that although Zheng cotton has achieved a "good start" after the holiday, the increase has not met expectations, so it is not in a hurry to hang orders and ship, still watching and waiting, and some Xinjiang ginners do not intend to sell Zheng cotton under the main contract of 16500 yuan/ton.

In contrast to the Xinjiang cotton processing enterprises "offer less, wait and see more", in recent days, some mainland cotton trading enterprises and companies have increased the inquiry/procurement of cotton resources in Xinjiang supervision and delivery repositories, especially the Corps cotton is favored.

A cotton enterprise in Henan province issued an announcement to purchase 500 tons of agricultural division machinery for picking cotton, requiring "double 29", including miscellany 2.9, horse value 4.0-4.8, 31 (of which 41 and below accounted for no more than 15%), signing the payment, delivery. Industry analysis, considering that from mid-December to mid-February, most large and medium-sized textile enterprises cotton yarn production and marketing is relatively smooth, not only cotton yarn inventory acceleration, and cotton and other raw material inventories also significantly decreased, coupled with most of the list to late March or even early April, so there is a strong replenishing demand after the holiday.

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