Hebei Jizhou Cotton Spot Sales Quote Price Drop
A large scale in Binzhou, Shandong.
Spinning enterprises
continuity
Price reduction
The influence of behavior recently in Jizhou, Hebei.
Cotton spot
Sales quotations appear
Sudden fall
Quotes, local cotton traders offer confusion, panic and rejection, and textile companies take a wait-and-see attitude.
To the factory price, the first 4 days after the first 2 days, a sharp reduction of the 4 level price was 1300 yuan / ton to 429 grade 21400 yuan / ton (delivered, carrying the ticket, weight, account period 2 days), 427 level 21000 yuan / ton, second below the 9 day, the 3 grade lint price was 3 yuan / ton to the yuan / ton, and the price was priced according to the quality inspection. Since July, a large textile enterprise in Binzhou, Shandong has continuously lowered its lint.
Because the textile enterprises in the local and surrounding areas have always regarded the quotations of Shandong's textile enterprises as a price vane, their short time continuous centralized price reduction has greatly affected the local cotton market. The psychological bottom line of the already vulnerable local cotton merchants has been hit hard again, resulting in an increase in the price of cotton prices and a panic selling phenomenon, so as to get rid of the hot potato as soon as possible.
Recent cotton spot
Selling price
The sudden drop led directly to the price limit of domestic cotton futures and electronic matching contracts in recent months.
Affected by this, 14 local cotton merchants 4 class real estate cotton sales quotations 21000 yuan / ton (big package, delivery price, public settlement, with the same ticket), 5 level offer 20000 yuan / ton, compared with the same period last week, the price dropped 1000 yuan / ton, compared with this Monday, a decrease of 500 yuan / ton, compared with 13 days decreased by 200 yuan / ton.
Some cotton traders who are eager to throw away goods have lower quotations. As long as the price of spinning enterprises can be traded, the sale price of individual 4 grade small package cotton is even lower than that of 17000 yuan / ton.
The small and medium-sized textile enterprises in the local and surrounding areas can only wait and see the market changes when their business condition is not improved. According to their production conditions, the small quantities are purchased and used, and the pricing method is mostly one vehicle and one price, and the paction is deserted.
In addition, the pressure on repayment of loans from the financial sector has increased significantly, and has become a price killer in the local cotton market.
It is understood that more than 80% of the cotton enterprises in this year have used the credit union funds to mortgage loans, and the mortgages are stored in designated warehouses for commercial cotton, with a loan ratio of 60%.
But so far, the number of enterprises paying off loans is less than 50%.
At the time of the initial mortgage, the financial department stipulated that all payments must be paid by the end of July, and the early-warning price was set according to the China cotton price index.
If cotton producers and cotton traders do not plan to repay the debts according to the plan, they will forcibly sell the large and medium-sized textile enterprises in the surrounding areas of Shijiazhuang Changshan textile and Shandong Wei Qiao, and make compulsory payments, and at the same time, reduce the credit rating of the next cotton year of the enterprise.
Since the end of March this year, the price of cotton has dropped sharply. It has already approached the warning price set by the credit union, so as to reduce the risk. Since the middle of July, the credit cooperatives have sent people into the cotton enterprises and forced the enterprises to tighten their sales loans.
On the other hand, forced sales in the financial sector exacerbated the depressed atmosphere in the local cotton market.
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