According to statistics of business society, on March 23, the average price of domestic spot market of lint was 15786 yuan / ton, down 3.09% on a month-on-month basis, up 36.84% year on year. The maximum price limit for the new territories cotton wheel entering the competition from March 22 to March 26 was 16265 yuan / ton (converted to standard grade 3128b), down 122 yuan / ton compared with the previous week. As of the 23rd, the average price of national cotton price B index representing the market price of standard cotton in mainland China was 15753 yuan / ton, down 3.2% on a month basis.
According to the latest customs data, China imported 690000 tons of cotton from January to February, an increase of 68.3% year on year, and a cumulative import of 1.66 million tons in 20 / 21, an increase of 102.4% year on year. Icac3 forecast global production and demand in the month of 20 / 21, global consumption is 24.46 million tons, output is expected to be 24.2 million tons, and the end of the period inventory is 21.11 million tons. In March, the Ministry of rural areas produced 5.91 million tons, imported 2.2 million tons, consumed 8.1 million tons, and the end of the period inventory was 7.34 million tons.
Last week, the high-level dialogue between China and the United States has seen a large divergence in negotiations. It is pessimistic about the cotton trade expectations. The United States is the largest exporter of cotton, and China is the largest consumer of cotton. And because of the impact of the higher dollar, ice cotton should be heard, under the background of market pressure, the trend is not optimistic in the short term.
With the decline of cotton price, the mentality of downstream yarn enterprises slows down, and the market demand tends to be rational. In the middle of March, Zheng cotton continued to break down and the price of domestic yarn and imported cotton in Guangdong, Jiangsu and Zhejiang textile market dropped 500-1000 yuan / ton. In addition, the difficulty of new orders received by clothing and foreign trade companies due to the rise of raw materials and fluctuation of RMB increased. The inquiry and purchase of cotton yarn and polyester cotton yarn in textile factories, fabrics and textile enterprises slowed down significantly compared with January / February.
The market is not confident about the recovery of consumption in March and April. It was originally March of the textile peak season. Due to the high cost of raw materials in the early stage, the enterprises were cautious in receiving orders. In recent years, there are different falls in textile raw materials, the port cotton inventory is at a high level and is in a continuous rising state. In addition, the supply of imported cotton increased greatly from January to February 2021, and the supply of cotton market is in a state of abundance. It is expected that cotton market will be mainly volatile in the short term.
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