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Cotton Market Weekly Report: National Cotton Cotto...

Release time:2011-08-23      source:      Views:

? This week (15 August 2011 19), the domestic cotton price decline has slowed down, international cotton prices rebounded sharply; cotton price decline reduced, polyester staple fiber prices rebound. As the weak downstream demand, cotton yarn market is still weak, but the price decline reduced; by the PX prices of raw materials driven, polyester staple fiber prices rebound.
? This week (15 August 2011 19), the domestic cotton price decline has slowed down, international cotton prices rebounded sharply; cotton price decline reduced, polyester staple fiber prices rebound.

? Purchasing and storage policy in the new year boost, the market confidence has improved, textile sourcing initiative to improve, significantly larger cash transactions, the price decline slowed. August 19, the standard level on behalf of the mainland's national average selling price of cotton lint price of B index 19,067 yuan / ton, down 118 yuan / ton, down 0.6 percent, 2.0 percentage points from last week narrowed; Xinjiang standard grade lint sales average price of 19,294 yuan / ton, down 250 yuan / ton, down 1.3%, reduced 1.3 percentage points from last week. September Zhengzhou cotton futures contract settlement price 20420 yuan / ton, down 30 yuan / ton, down 0.1%; Beijing National Cotton Exchange electronic trading September contracts matching the average price of 19,383 yuan / ton, down 189 yuan / ton, down 1.0%; Hefei national cotton trading center of electronic trade matching September contract settlement price 19670 yuan / ton, down 90 yuan / ton, down 0.5%.

? As the U.S. dollar index fell and suffered severe floods in southern Pakistan, the New York cotton futures rebounded sharply, driven by spot prices. August 19, October New York cotton futures contract settlement price of 106.8 cents / lb last week rose 6.0 cents / lb, or 6.0%. China's main port on behalf of imported cotton to the shore of the international cotton price index (M) calculated at 1% tariff, discount import costs 22,036 yuan RMB / ton, up 1,290 yuan / ton, or 6.2%; by sliding duty , discount import costs 22,391 yuan RMB / ton, up 1,277 yuan / ton, or 6.1%.

? As the weak downstream demand, cotton yarn market is still weak, but the price decline reduced; by the PX prices of raw materials driven, polyester staple fiber prices rebound. August 19, 32 cotton carded yarn offer 26,750 yuan / ton, down 650 yuan / ton, or 2.4%, narrowed 1.0 percentage points from last week; polyester staple fiber offer 13,000 yuan / ton, compared with the previous week rose 100 yuan / ton, or 0.8%.

? Looking ahead, the international cotton prices will be weak oscillation. Governments have been introducing policies to rescue the market, boosting confidence in capital markets, the overall rebound in commodities this week, but the recent weak U.S. economic data increased investors' concerns about the global economic outlook, consumer market is not optimistic. Fundamentally, the world's main cotton-producing regions yield in sight, the downstream end of insufficient demand and consumption patterns will continue to suppress the weak trend in cotton prices. India's Cotton Advisory Board (CAB) has said it expects 2011 annual production of cotton in India increased the second consecutive year, the government is likely to continue to release cotton exports; Australian cotton company said the year 2011 Australian cotton acreage is expected to reach 874.5 million acres, an increase of 120 acres, or hit a record high. U.S. Department of Agriculture data show that 2011 U.S. cotton export situation bad start, still a large number of textile mills breach of contract, on August 1 to 11 of the U.S. upland cotton exports net contract volume of -7.8 million tons. In the global environment of rising inflation, the U.S. apparel retail prices rise, will lead to reduced consumer spending clothing. In summary, the recent international cotton prices or vulnerable main oscillation.

? The gradual stabilization of the domestic cotton price. Short-term domestic cotton price is expected to further stabilize, but do not have the rebound conditions, need to pay close attention to weather conditions late. On the one hand, the new year approaching, the relevant state departments are actively preparing for the purchasing and storage issues. Policy support in the purchasing and storage, the current price decline has slowed down the downstream gauze, some textile enterprises reflects a slight improvement in sales, to ensure that low-profit, low inventory levels to promote the timely procurement of some low-cost textile industry began to cotton, the domestic cotton price expected to be further stabilized. On the other hand, more abundant supply of cotton last year, will limit the cotton price rebound. According to the National Cotton Market Monitoring System survey, as of the end of July 2011, the domestic processing of part of commercial inventory of about 971,000 tons, circulation 403,000 tons, plus bonded warehouse 180,000 tons of cotton and other means of outside resources, China's cotton business inventories total of about 1.554 million tons; expected based on the current sales pace, the end of the year may have more than 1 million tons flow to the next annual business inventories. It is noteworthy that the main cotton-producing regions of the Hebei-week continuous rain few photos, post-rainy weather likely to continue, is not conducive to the growth of cotton. Recently sat in autumn peach peach peach and V before the critical period of boll opening, the future impact of weather on cotton growing need to pay close attention.

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