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The hot start of the year has undoubtedly laid the foundation for a full recovery of the domestic market. After the Spring Festival holiday, chemical fiber and cotton yarn rose synchronously. Last week, the downstream is in the process of resuming work after the holiday, the market is still mainly to complete the pre-Spring Festival orders, spot purchases and sales are still light. At present, the downstream textile enterprises have fully resumed work, and the market will gradually enter a critical stage of verifying the demand.
The trading market is warmer
On the eighth day of the New Year, China Textile City ushered in the first day of the opening of the New Year. On the same day, the city east market, North market, Beilian market and other major professional markets have opened their doors to welcome customers. The average opening rate of the market on the first day of the opening reached 53%. Among them, the North link market open rate reached 98%. Both merchants and buyers are full of confidence and expectations for 2023.
The recovery of the trading market reflects the vigorous vitality of the industrial chain. After the beginning of the year, commodity prices rose across the board, cotton, cotton yarn, polyester filament, polyester staple fiber, polyester chips, polyester bottle chips and other categories have risen to varying degrees. Among them, Zheng cotton main contract for several trading days stands firm above 15000 yuan/ton.
The rise in prices was driven by higher upstream crude oil prices.
In recent days, the international oil price continues to rise, driving the domestic market in the crude oil plate to rise sharply, leading the whole commodity market. The overall atmosphere of the market is warm. Under the influence of this, the futures of the relevant domestic textile plate show a continuous rising trend, and the chemical fiber market recovers at the end of the year.
Combined with the international cotton market, the biggest variable on the supply side is still India's output, and global cotton textile demand may continue to be weak. After the optimization of domestic epidemic prevention and control policies, the main line of cotton trading gradually changed from the expectation of demand recovery to the situation of demand landing. Cotton inventory and cotton yarn inventory of spinning enterprises were both at a low level, and there was a certain demand for replenishment in the market, but the digestion of grey cloth was significantly worse than that of cotton yarn.
Generally speaking, with the improvement of the opening rate of weaving factories, inventory consumption and delivery of new orders, the trading situation of chemical fiber factories may improve recently, but the specific situation still needs to see the actual transaction situation. In the New Year, strong expectations meet weak demand, may be a more realistic situation.
Zheng Mian or maintain a strong trend
On February 1st, some textile enterprises in Hebei have officially resumed work and production. Due to the high expectations of enterprises, the enthusiasm of operation is high, which echoes the cotton and yarn prices around the country have risen significantly compared with before the Spring Festival, exacerbating the bullish atmosphere of the market.
After the Spring Festival, Zheng cotton futures rose sharply, stimulating spot with the rise. The price of grade 3128 cotton in Hebei region is around 15,550-15,600 yuan/ton (gross weight settlement, tax included), compared with before the Spring Festival increased by 300-500 yuan/ton. Many industry people believe that the economy is improving, the people are more optimistic about the market expectations, or will continue to promote Zheng cotton futures up.
Overall, the Year of the Rabbit opened relatively mild, the market more optimistic expectations.
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