Quote express: gauze briefly warmed up, cotton "volume price" rebounded
Date:
2023-12-29
According to feedback from several cotton processing enterprises in Aksu, Korla, Kuitun and other places, driven by the rebound in Zheng cotton last week and the "tail-lifting" market in terminal production and sales before the festival, not only cotton prices inside and outside Xinjiang rebounded with futures oscillation, but also the enthusiasm of cotton traders/current companies and textile enterprises to make inquiries and purchases gradually rebounded from the first half of December. How long this situation can last, cotton-related enterprises are generally not sure, can only observe while shipping.
Judging from the quotations of cotton enterprises, from December 24 to 25, the public weight quotation of "Shuang 28" machine-picked cotton from Xinjiang supervision warehouse rose to 15,850-16,050 yuan/ton (due to different specific quality indexes, impurity content, storage warehouse or difference of about 100 yuan/ton); "Shuang 29" quoted 16,050-16,200 yuan/ton, up nearly 500-700 yuan/ton from the beginning of December. For most ginning mills in southern Xinjiang, according to the current sales price, machine-picked cotton is already in a state of flat production and sales or slightly profitable. A textile enterprise in Jiangsu said that this year's public inspection "double 28/double 29/double 30" resources account for a relatively high proportion, and the quality does not need to be worried. Cotton enterprises are more concerned about indicators such as length uniformity and fracture specific strength consistency.
Cotton sales pick up
In the past week or so, cotton turnover has recovered weakly. First, domestic cotton trading enterprises/spot companies have entered the market on a large scale and purchased Xinjiang cotton in 2023/24 by various means such as base price. The spot market has bottomed out and rebounded. Second, since mid-December, the CF2405 contract disk price has continued to consolidate at 15000-15500 yuan/ton. Some institutions and cotton-related enterprises have judged that this year's Zheng-cotton adjustment has ended, the main contract will continue to break the important pressure barrier, coupled with some textile enterprises before the Spring Festival still have the need to replenish the warehouse, the willingness to purchase at low prices increased. In addition, the terminal pre-holiday stocking, a small number of cloth factories and fabrics, clothing enterprises in winter and spring replenishment of the market confidence, disk sentiment to form a certain support, cotton and other raw materials for a short time to pick up, but the durability is doubtful.
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2023-12-29
Quote express: gauze briefly warmed up, cotton "volume price" rebounded
According to feedback from several cotton processing enterprises in Aksu, Korla, Kuitun and other places, driven by the rebound in Zheng cotton last week and the "tail-lifting" market in terminal production and sales before the festival, not only cotton prices inside and outside Xinjiang rebounded with futures oscillation, but also the enthusiasm of cotton traders/current companies and textile enterprises to make inquiries and purchases gradually rebounded from the first half of December. How long this situation can last, cotton-related enterprises are generally not sure, can only observe while shipping.
2023-12-29
Company Company
SHANGHAI EAST YUEFA TEXTILE TECHNOLOGY CO., LTD
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Floor 5, Building 11, 6055 Jinhai Highway, Fengxian District, Shanghai
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