Production And Sale Of Gauze Decreased Year By Year, Cotton Prices Weakened
According to the price monitoring of the business community, the average price of lint 3128B lint in the domestic spot market was 13591 yuan / ton as of August 16, 2019, which was 4.24% lower than that of last month, down 16.52% from last year. The United States has delayed tariffs on some Chinese products, domestic cotton stocks have increased year by year, and lint spot weakness has declined.
In August 13th, it was reported that the United States postponed tariffs on some Chinese products to December, involving textile raw materials and textile products. In response to the announcement by the US trade representative office that it will levy about 10% tariffs on imports of about $300 billion from China, the head of the State Council Tariff Commission said that the US side's actions seriously violated the consensus between the two heads of state of Argentina and the Osaka consensus and deviated from the correct track for resolving disputes through consultation. China will have to take the necessary counter measures. The trade pattern is changing, the market is prudently managed and the risk prevention is the theme.
Earlier, according to the relevant data, the end of the year, the end of the United States cotton inventory will reach 5 million packages, the highest level in nearly ten years, cotton production at the same time cotton consumption decline. According to the survey, as of the end of July, the total turnover of domestic cotton turnover was about 2 million 396 thousand and 200 tons, an increase of 903 thousand tons compared with the same period last year, of which 43 warehouses in Xinjiang area had 1 million 771 thousand and 700 tons of commodity cotton turnover, accounting for 73.94% of the total turnover inventory of the whole country, still higher than the 969 thousand and 300 tons in the same period last year.
Recently, influenced by the US tariff escalation, the international cotton price has dropped sharply. The market has not been very optimistic about the Sino US tariff issue, and cotton consumption is expected to decline.
As for cotton yarn in China, as of August 16th, the average price of single yarn of 21S high quality knitted fabrics in Shandong area was 21240 yuan / ton, the ring fell 0.47% compared with last month, down 12.30% from the same period last year. The average price of the single yarn of 32S high quality knitted fabric is 22400 yuan / ton, 0.27% lower than the same month, down 11.04% compared to the same period last year.
Sino US trade tariff escalation, textile export orders frustrated, production and marketing slump. At the beginning of August, the production and sale rates of yarn and cloth were 3.2% and 5.5% lower than that of the last three years, respectively. The inventory was 12.4 days and 11.4 days higher than the average level in the past three years. According to the monitoring data of the China National Business Information Center, the retail sales of major retail enterprises in July 2019 dropped by 2.9% compared with the same period last year. In 1-7 months, the total export volume of China's textile and clothing decreased by 0.10% compared with the same period last year, of which the textile decreased by 0.08% and the clothing decreased by 0.11%.
Judging from the price chart of cotton cotton yarn, cotton prices continue to weaken in the near future. Cotton yarn is subject to high inventory pressure, low profit and other factors. As can be seen from the graph, cotton prices are still warmer in late June to early July, but cotton yarn is basically weakening and is hard to rebound.
Business analysts believe that cotton inventories increased year by year, cotton yarn and cotton production and sales declined, and export pressure increased. Under the influence of volatility in the global economic and trade pattern, the recent economic and financial risks have intensified, the contradiction between supply and demand has increased sharply, and the cotton textile market will continue to be weak.
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