[Textile enterprises to shorten the Spring Festival holiday replenishment slow start]
Release date:[2024/1/11] Read a total of [94] time

Textile enterprises to shorten the Spring Festival holiday, replenishment slow start

Recently, Zheng Mian rebound narrowed, long and short into a stalemate, the main CF2405 contract broke 15500 yuan/ton mark, long confidence has declined, can hold 15500-16000 yuan/ton concussion range still need to be observed. Zheng cotton yarn has opened a strong rising rhythm, the main CY2405 contract rose from 20,960 yuan/ton to 22065 yuan/ton in only three trading days, and the price difference with Zheng cotton CF2405 contract widened from about 5,000 yuan/ton to more than 6,000 yuan/ton, and the price difference between the two was gradually repaired.

In the recent stage, due to the approaching of the Spring Festival, seasonal replenishment has promoted the domestic sales market in China to go well, while export orders have also increased, downstream market transactions have picked up, some cotton mills have active replenishment signs, supporting cotton prices up. From the spot market, cotton prices rose slightly in the early part of the New Year's Day, and continued to rise steadily, driving the downstream cotton yarn prices also rose after the festival, and the current rise is more stable, some textile enterprises increased by two or three hundred yuan, and some small enterprises are still difficult to raise prices. From the feedback of cotton spinning enterprises in Shandong, Jiangsu, Henan and other places, cotton yarn prices continue to rise slightly, 40S and below the low and medium count cotton yarn losses continue to shrink, business confidence has been restored. Some cotton textile enterprises that had planned to release the "Spring Festival holiday" in advance in mid-January issued a notice to postpone the holiday for 7-15 days, encouraging employees to work overtime before the Spring Festival to catch up with orders.

Some cotton trading enterprises and Xinjiang processing enterprises reflect that with the rise in cotton and cotton yarn prices, cotton textile enterprises and traders have continued to warm up their inquiry/procurement enthusiasm, and the cotton sales progress in Xinjiang and outside the storage warehouse has accelerated, especially the Xinjiang machine-picked cotton with medium and high quality indicators. Since mid-December, most cotton spinning enterprises have accelerated destocking, and at present, the inventory of finished products of many enterprises in Henan, Shandong, Hubei and other places has dropped to within a month, and the cash flow pressure has gradually been eased, and the purchase of cotton and other raw materials has slowly started.

At present, the entire industry chain's expectation of a strong rebound in China's cotton consumption in the first half of 2024 has gradually increased, and it is worried that cotton prices will accelerate the rebound after the holiday and start purchasing in advance. At present, the spot sales price of Xinjiang leather cotton is gradually flat with the cost of gin mill or even "along hanging", and some cotton enterprises have adopted the strategy of covering the plate and reluctant to sell. It is understood that as of January 4, the sample enterprise finished products warehouse existed for 26.71 days, down 10.50% from before the holiday. At present, some enterprises have finished products warehouse near 10-20 days, a small number of enterprises feedback almost no inventory, some varieties lack goods, need to be ordered to ship, but there are also some enterprises in the early accumulation of inventory is serious, although the recent inventory of finished products has declined, but the number is still near 30-40 days.

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