Low Peak Season; The Cotton Market Unexpectedly Performs The "Late Spring Cold"

In April, Zheng Mian continued to be weak. Although his position reached a new high yesterday Rebound strength Still insufficient, market There are big differences in the long short game. Popular in the early market cotton duty-free Imported , Lowering agriculture products Equal addition Industrial VAT As well as the rumor that the export tax rebate rate of textile and clothing has been reduced, together with the national minimum purchase and storage policy of 19800 yuan/ton, the market is "empty".

　　 Downstream textile enterprises are hardly optimistic

Recent orders from textile mills are not ideal, and enterprises are cautious in receiving orders.

　　 First, the export environment is complex. At present, the foundation of international market recovery is not solid. The debt crisis in traditional developed markets has not been eliminated. Some countries have begun to change the way of debt consumption. Market recovery will still be a long process. The turmoil in the Middle East has increased the uncertainty of emerging markets. The Japanese earthquake also cancelled or postponed some textile and clothing export orders to Japan.

At the same time, the strength of emerging economies has entered a rising period, making the international competition in the textile industry more intense. Although China is an irreplaceable processing and manufacturing country, and the degree and scale of industrial agglomeration of other countries can not be compared with it, the textile exports of Bangladesh, Pakistan and other countries have increased rapidly recently, which has brought some impact on "Made in China".

　　 Second, the cost pressure is increasing. Since this year, cotton polyester fiber Staple fiber, etc Raw material price The high price of raw materials has increased the business risk of enterprises, making short and small orders the normal production. Other cost increases have also squeezed the export profit margin of enterprises. Some enterprises report that the energy and transportation costs have increased by about 10% and the labor costs have increased by about 20% recently. The price transmission has a certain lag, and it is difficult for the product price to rise synchronously, which also affects the enterprises to take orders. The increasing cost pressure has forced China's textile export prices to rise accordingly, causing some international buyers to turn to India and Vietnam, which are low price markets.

　　 Third, the overstock of yarn and cloth restricts the rise of cotton prices. Influenced by factors such as the enterprise's bullish market in the early stage and the future market, the inventory of domestic yarn and cloth products is quite serious at present. It is understood that Shandong Province, which accounts for 25% - 30% of China's annual yarn output, has extended the inventory of some enterprises from the normal 40 days to the current two months. However, the sales of gauze is not optimistic. At present, the cotton yarn market is almost stagnant, and most of the yarn mills have stopped production.

As most downstream textile enterprises timely adjust the proportion of cotton and product structure, increase the output of polyester cotton and blended products to meet market demand. Therefore, although the enterprise has lowered the yarn price, for example, the price of 32S yarn has dropped from the previous high of 43000 yuan/ton to the current 37000 yuan/ton, the price reduction has not led to the improvement of sales, and the market turnover is still limited.