It Is Expected That The Recent International Cotton Price Will Show A Weak Oscillation Pattern.

< p > in the last few days of the sale of reserve cotton, the textile enterprises concentrated on the purchase of cotton reserves and the spot price of domestic cotton fell slightly.

Driven by the price increase of PTA, the price of PET staple has increased, domestic textile sales have not improved, and cotton yarn prices have dropped slightly.

In August, 32 cotton combed yarn quoted 25860 yuan / ton, down 5 yuan / ton compared with last week, or 0.02%, up 485 yuan / ton, or 1.9%; polyester staple price 10165 yuan / ton, up 85 yuan / ton compared with last week, or 0.8%, down 55 yuan / ton, or 0.5%.

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< p > the average selling price of the standard grade lint in the mainland is 19197 yuan / ton, down 11 yuan / ton compared with last week, or 0.1%, up 668 yuan / ton compared with last week, or 3.6%; the average price of Xinjiang standard lint sale is 19504 yuan / ton, unchanged from last week, up 753 yuan / ton, or 4%.

Zhengzhou cotton futures contract settlement price in September was 20690 yuan / ton, down 225 yuan / ton compared with last week, or 1.1%, up 2440 yuan / ton compared with last week, or 13.4%; the average contract price of the national cotton trading market electronic matching September was 19160 yuan / ton, compared with last week, it fell 66 yuan / ton, or 0.3%, up 372 yuan per ton, or 2%.

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< p > China's Manufacturing Purchasing Managers Index (PMI) released by the National Bureau of statistics was 50.3%, an increase of 0.2 percentage points from last month, while HSBC PMI was 47.7%, down 0.5 percentage points from last month, a 11 month low.

The differentiation of PMI data indicates that the domestic economic situation is rather complicated.

HSBC PMI is mainly based on the compilation of hundreds of small and medium-sized manufacturing enterprises in the export sector. The data is not good enough to reflect that the current dilemma of this type of enterprise has not yet been reversed.

At present, the textile industry is still running off-season, and all enterprises in the industrial chain are mainly managed conservatively, controlling the stock level, and the price of some varieties of yarn and cloth has been repeatedly downgraded.

In order to cope with the decline in the free trade supply of cotton, cotton enterprises increase the bidding strength before the end of the sale of cotton reserves. Most of the enterprises have kept the stock of cotton for more than 1 months, which has weakened the demand for later purchase.

Cotton prices are expected to remain stable in the near future, and new cotton should be closely monitored before coming into the market.

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< p > New York cotton futures bullish and bearish factors interwoven, prices narrow oscillation.

On the one hand, due to the slow growth of the US cotton market, the market is worried about the shortage of US cotton in the early new year, supporting the cotton price. On the other hand, the downstream demand is insufficient, and the US cotton export progress slows down.

In August, New York cotton futures contract settlement price in October was 85.32 cents / pound, down 0.05 cents / pound, or 0.06%, compared with last week.

The international cotton index (M), which represents the average price of the Chinese main port on the import cotton, is calculated at 1% tariff. The cost of import of RMB is 14904 yuan / ton, down 103 yuan / ton, or 0.7% yuan, lower than the domestic market 4293 yuan / ton, the price difference increased 92 yuan / ton compared with last week. According to the sliding tax, the cost of import is 15737 yuan / ton, down 66 yuan / ton compared with last week, or 0.4% yuan, lower than the 3460 yuan / ton in the domestic market, and the price difference increased by 55 yuan / ton last week.

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< p > recently, the economic data of major developed economies are showing signs of good again. The euro area manufacturing PMI rose to 50.3 this month, an increase of 1.5 percentage points from the previous month, the first time in two years to surpass the dividing line between prosperity and decline, and the US ISM manufacturing index reached 55.4, representing 4.5 percentage points higher than in June, the highest since June 2011. In addition, the unemployment rate in the United States dropped to 7.4%, down 0.2 percentage points from last month.

The Central Bank of Europe and the United States promised to maintain the existing monetary policy, and the International Monetary Fund [micro-blog] and other agencies are still cautious about the economic outlook.

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On the basic level, the weak demand in the downstream textile industry has led to the recent lack of active procurement of cotton in the international market. Besides, recently, Chinese textile enterprises have concentrated more on purchasing cotton reserves, and the attention on international cotton has decreased. P

The US Department of agriculture's US cotton export report shows that the total net export volume of US cotton exports in the year 2012/13 and 2013/14 is less than 20 thousand tons, down 40.7% from the previous week.

The new cotton market may be postponed in the US, which is expected to form a certain support for the cotton market. However, it is reported that the India Cotton Corp will allow the export of cotton stocks.

It is expected that the international cotton price will show a weak oscillation pattern in the near future.

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