ICE cotton futures closed sharply lower–SICE Daily Market Express (3.13)
Domestic
1.3128B cotton 12555 dropped 125; 1.5Dviscose staple fiber 9300 flat; 1.4Dpolyester short fiber 6100 dropped 120 ;Purecotton yarnC32S 20500 flat;rayon yarnR30S 14050 flat; pure polyester yarn T32S 11050 flat.
2. Cotton futures hit the lower limit again during the session. The market was heavily bearish and some merchants sold goods at low prices. The sales basis of a merchant’s Xinjiang cotton machine-picked double 28-grade Henan warehouse is around 500 yuan/ton, which is about 12,200 yuan/ton. The actual order can still be negotiated, and merchants mainly ship.
3. There is not much movement in the viscose market. Chemical fiber manufacturers are selling goods at low prices. Downstream users maintain rigid demand. Orders in the yarn market are average. The market outlook will continue to wait and see. The current price of mid-range viscose staple fiber is 9,300-9,400 yuan/ton, and the price of high-end viscose staple fiber is 9,500-9,600 yuan/ton.
4. The Zhengzhou CF005 contract opened at 11,970 yuan/ton and closed at 11,775 yuan/ton, down 405 yuan or 3.33% from the previous trading day. The trading volume was 577,367 lots, and the open interest decreased by 5,288 lots to 401,450 lots.
5. PTA futures continued to fluctuate weakly this morning. In the Zhejiang market, polyester factory quotations were mostly stable, and some transactions were still downward. Most of the downstream textile enterprises maintain urgent needs for replenishment, with a cautious wait-and-see mentality taking over, and the market trading atmosphere is dull. It is expected that the polyester yarn market will be stable or fall in the short term. The mainstream prices of 100 denier are quoted at 6600, 6900 and 8750 respectively.
6. China Textile City saw an increase in passenger volume, with a total transaction volume of 4.45 million meters, including 2.56 million meters of filament fabrics and 1.89 million meters of short fiber fabrics, including 450,000 meters of cotton fabrics. 10,000 meters, TC cloth 320,000 meters, TR cloth 420,000 meters, Rrayon cloth280,000 meters, and others 420,000 meters.
International
On 1.12, the ICE cotton futures market closed sharply across the board. The May contract settled at 59.70 cents, down 185 points; the July contract settled at 60.35 cents, down 181 points; the December contract settled at 60.84 cents, down 159 points. Other contracts fell by 122-149 points.
2. The spot price of cotton in India fell slightly on Thursday, with the delivery price at the S-6 ginning factory quoted at 38,450 rupees/kandy, a discount of 66.25 cents/pound. The price of Punjab J-34 is quoted at 4,025 rupees/moend, a discount of 66.10 cents/pound. The amount of seed cotton on the market that day was 18,900 tons, including 5,610 tons in Telangana, 4,930 tons in Gujarat and 4,420 tons in Maharashtra.
3. Indonesia imported 56,700 tons of cotton in January, an increase of 19% from the previous month and slightly lower than the same period last year. Among them, Brazilian cotton accounts for the highest proportion of 41% (23,400 tons), US cotton (16,800 tons) and Indian cotton (6,817 tons). A total of 301,300 tons of cotton were imported this year, a year-on-year decrease of 12%.
4. The price of foreign cotton arriving in Hong Kong rose slightly today. The price of Indian cotton Shankar-6 1-5/32 for the April/May shipment period is 67.75 cents/pound, down 1.75 cents, and the price under the discounted standard tax is 13,604 tons, down 159 yuan; 1% quotaTariffsThe self-delivery quotation at the port is 11,712 yuan/ton, a decrease of 297 yuan. The quotation of US cotton EMOT SM for April/May shipment period was 72.70 cents/pound, down 1.75 cents, and the quotation under discounted standard tax was 14,070 yuan/ton, down 171 yuan; under the 1% quota tariff, the port’s self-delivery quotation was 12,553 tons, down 297 yuan. Brazil’s SM shipment price in April/May fell by 1.75 cents to 72.25 cents/pound, and the quotation under discounted standard tax fell by 173 yuan to 14,021 yuan/ton; under the 1% quota tariff, the port’s self-raised price fell by 297 yuan to 12,477 yuan/ton.
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