Domestic cotton prices have risen!

The big news from Sino-US trade should be on the phone with the President of the United States. In a flash, global investment has boiled, and the pessimistic attitude of people in the industry has eased, and domestic cotton prices have risen. The decline in cotton yarn prices at home and abroad has slowed slightly; the growth of polyester staple fiber has expanded.

First, domestic cotton prices rose

    This week, Sino-US trade released a favorable signal, and domestic cotton prices rose. On June 17-21, 2019, the national cotton price B index representing the average selling price of standard cotton in the Mainland was 14,219 yuan/ton, up 16 yuan/ton from last week, or 0.11%; Zhengzhou cotton futures contract settlement average price was 13642. Yuan/ton, up 373 yuan/ton from last week, or 2.81%; the average transaction price of reserve cotton was 12842 yuan/ton, up 117 yuan/ton from last week, or 0.92%.

Second, the overall increase in international cotton prices

    This week, due to the expected rise in global monetary easing and the positive news of Sino-US trade and the decline in US cotton sales, the international market rose first and then fell, and the overall price rose. On June 17-21, 2019, the settlement price of the main contract of New York cotton futures was 66.38 cents/lb, up 0.44 cents/lb from last week, or 0.67%, representing the international cotton index of the average price of imported cotton in China. (M) 77.15 cents/lb, up 0.23 cents/lb from last week, up 0.3%, and the import cost of RMB was 13,267 yuan/ton, up 75 yuan/ton from last week, or 0.57%; the difference between domestic and foreign cotton was 952 yuan. / ton, down 60 yuan / ton from last week.

Third, domestic and international cotton yarn prices have slowed slightly

    This week, the domestic cotton yarn shipments improved slightly, the cotton yarn price fell slightly, and the overall situation is still declining; the international cotton yarn inquiry slightly increased, the outer yarn price fell slightly, the average cotton outer yarn average price The domestic yarn price is 790 yuan / ton; the domestic cotton market is still weak, the price of pure cotton continues to decline; polyester staple fiber continues to rise with the price of crude oil.

Fourth, the outlook outlook

    The frequency of international cotton price fluctuations has increased. This week, the Federal Reserve announced that the federal funds rate will remain unchanged, causing the US dollar index to fall sharply and the commodity market to rebound. The US June Markit manufacturing PMI has hit a new low in the past 10 years. The downward pressure on economic growth continues, and the overlapping trade situation is repeated and uncertain. Sex is still covering the market. In the international cotton market, as of now, the US cotton planting progress is 89%, 14 percentage points faster than the previous week, 6 percentage points lower than last year, and 49% higher than the good production situation, 11 percentage points higher than the same period of last year; Pakistan cotton planting The area reached 2.785 million hectares, 85% of the plan was completed; India's monsoon rains were late, Indian cotton planting decreased year-on-year, and new cotton planting progress in the northern hemisphere was different; last week, US cotton export net contracted volume was negative, hitting a new low this year, China canceled a large number of contracts, Brazil The price of cotton in Uzbekistan, Mexico, West Africa and other countries has changed with the trade situation. The Australian cotton market is mostly solving the problem of delay or cancellation of high-priced contracts in the early stage. Although the inquiry for the downstream international cotton yarn market has improved, the actual price is still weak. At present, due to repeated trade news and weather uncertainty in China and the United States, the frequency of international cotton price fluctuations may increase. Recently, the report on the cotton planting area to be released by the US Department of Agriculture next week and the resumption of negotiations on Sino-US trade at the G20 summit will be held.