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Market Analysis: ICE Cotton Price Is Not Optimistic Due To Macro Factors

2023/2/20 15:23:00 59



Affected by macro factors, ICE cotton price maintained a weak operation. Drive Zheng Mian to weaken and explore the 60 day moving average support again. In terms of spot goods, the latest cotton price index at 328 level was 15607 yuan/ton, down 36 yuan/ton. In 2022/23, the spot price of Xinjiang Jicai 3128B was quoted as 14700-15000 yuan for domestic warehouses.

The market of pure cotton yarn is generally traded, and the downstream is mostly wait-and-see, so the purchase is reduced. The overall price of pure cotton yarn has not changed, and there are few transactions. Textile enterprises have low inventories of finished products, and they still have a certain willingness to maintain prices. The overall turnover of the cotton grey cloth market is still weak. At present, the market has not changed much, and new orders are still insufficient. The poor improvement of downstream orders after the festival led Zheng Mian to make a sharp correction in a row. At present, the market price has given up the optimistic expectation before the festival, and entered a volatile trend in the short term. Pay attention to the performance of downstream orders.

However, due to the early start of the Spring Festival this year, we are now away from ▪ The traditional peak season of "three silvers and four silvers" still has time, so the market has not completely lost its expectation of the peak season. Whether there will be a rebound in the later period depends on the subsequent orders. From the order performance after the festival, Lanxi, Guangdong and other domestic clothing orders have performed well.

However, Shaoxing, Ningbo, etc., which mainly focus on export orders or Nantong home textile market, has a relatively general performance. At present, the startup data of textile mills in Lanxi and Guangdong are relatively bright. The startup load in Lanxi is as high as 8-90%, and the comprehensive startup load in Foshan Zhangcha is as high as 6-70%. Therefore, the domestic clothing market can still be expected, hotel orders in the home textile market may increase to a certain extent, and the export market is still not optimistic.

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