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Cotton stocks remain high
Recently, China's cotton inventories remain high, domestic cotton prices also showed a downward trend, the intention of enterprises to purchase cotton declined. The industry is expected, September 2014 textile raw materials prices will be in the down range, yarn, cloth prices will show a downward trend in October after the market will throw throwing, demand, imports of cotton yarn and many other uncertainties, the price will be Change. At present, China's cotton accounts for nearly 60% of the world's ending stocks. The inventories of other producing and consuming countries are at a relatively low level. In the future, the domestic cotton market will mainly be destocked. According to the National Cotton Monitoring System sampling, as of May 7, the average number of days cotton was spot checks for business use was about 32.1 days, a decrease of 1.2 days, down 5.1 days. The cotton inventories of the major provinces in the country have obviously increased, for example, Anhui, Hunan and Fujian. According to media reports, the U.S. Department of Agriculture (USDA) estimates the ending stocks of cotton in the United States, India, China and Brazil in 2013 to be 87%, 21%, 35%, 160% and 92% respectively. Among them, China, Brazil, high inventories is the global end of the main reasons for rising inventories. China's open storage for three consecutive years led to inventory days, while Brazil's 2013 annual output rise in consumption is expected to decline stronger. This reporter has learned that the global cotton production in 2013 decreased from 2012. US Department of Agriculture in February supply and demand report forecasts that in 2013 the global cotton production was 25,402,000 tons, 5% less than in 2011, while the consumption of 23,837,000 tons, ending stocks of 21,033,000 tons, the inventory consumption ratio of 85%, compared with 1% increase in 2011. In the meantime, the USDA also forecasts the largest decrease in output in the United States and China in 2013, at 24% and 6% respectively. India and Brazil have increased production, but not enough to make up for the U.S. and China's reduced output. According to USDA statistics, in 2013, India's cotton surplus was 1.3 million tons, down 150,000 tons from 1.459 million tons in FY2012 and nearly 800,000 tons less than the 2.09 million tons in FY2011. The golden age of Indian cotton exports is over, reducing the pressure on our cotton prices. The International Cotton Advisory Committee predicts that the surplus of cotton in India will be further reduced to 800,000 tons in 2014, a decrease of 400,000 tons from the 2013 level. Cotton prices lower It is understood that the domestic cotton prices continue to fall, of which the national cotton price A number (CNCttonA) average price of 18,311 yuan / ton, down 924 yuan / ton than in April; the national cotton price B number (CNCttonB) 17449 yuan / ton, down 862 yuan / ton than in April. May 12 Zheng cotton 1501 contract fell slightly, opened at 16010 yuan / ton, closing at 15910 yuan / ton, down 115 yuan / ton the previous day, a substantial increase in turnover, positions increased by 5492 to 133998 hand. Business intention of purchasing cotton has declined. According to the sampling data of the National Cotton Monitoring System, in the beginning of May 2014, the proportion of enterprises preparing raw materials for procurement was 64%, down 5% sequentially and down 5% from the same period of last year; those with wait-and-see attitude accounted for 36% and 5% respectively, Up 11%. This reporter has learned that the domestic yarn and cloth prices getting lower and lower, a larger decline, a slight decline in yarn production year on year, cotton textile business revenue, total profit, number of employees decreased. Insiders said that in the existing cotton policy, no sudden policy variables, the decline in the spot price of cotton has been established, if the future decline continues to expand, which will increase the domestic cotton consumption, thereby viscose staple fiber, polyester Other alternative fiber prices caused some impact. In addition, the industry also expects that the price of raw materials will be in the down range before September 2014, and the prices of yarn and cloth will be in the same trend. After October, the market will face many uncertainties such as throwing storage, demand and import of cotton yarn, and the price will be Change.