After the adjustment of textile raw materials or shocks

The policy interference significantly aggravated the cotton market continued to pressure into March, the domestic cotton spot market showed a slight decline in the trend, the monthly decline of 0.51%, the current market center price of 19,380 yuan / ton. As of the 27th of 2013, the cumulative transaction volume of cotton temporarily stored was 6,274,650 tons, and the cumulative turnover in Xinjiang was 4,028,140 tons, with a cumulative turnover of 22,465,010 tons in the Mainland. According to customs statistics, in February 2014, China imported 246,100 tons of cotton, a decrease of 46,400 tons from the previous month, a decrease of 15.9%, and a decrease of 35% year-on-year.

The reserve price of reserve cotton out of the auction will be reduced from 18,000 yuan/ton to 17,250 yuan/ton. In recent days, spot sales of Xinjiang lint and long-staple cotton are not good, and the mainland cotton mills and cotton traders are waiting to see more emotions. Stabilize and then purchase. In spite of the direct subsidy policy in Xinjiang this year, it is expected that the cotton planting area is unlikely to increase. The survey data released by the Ministry of Agriculture on March 27th showed that the cotton growers' intention to plant areas continued to decline. It is expected that the area planted for cotton this year will decrease compared with the previous year. 7%. According to the survey data of the China Cotton Association, the average planting intention of farmers across the country is reduced by 10.5%.

The collection and storage will end at the end of March, and the accumulated reserve can reach 625-630 million tons. After entering April, the throw-and-store policy will usher in adjustments, lowering the price and foreshadowing the expectation of import quotas for storage and tying, and at the same time, the rules for direct supplementation will be introduced. In the short term, the cotton market will be greatly affected by the policy, and the cotton price operation center is expected to continue to decline. Although the planting intentions of the mainland cotton farmers have slowed down and eased the long-term supply pressure, the pressure on the State Reserves inventory remains high, and the cotton price will remain under pressure in the medium and long term.

Equipment load significantly reduced PTA stopped falling rebounded into March PTA continued downtrend in February, the market continued to hit a new low, but after entering late March PTA plant through centralized inspection and repair of equipment to adjust the market supply, making low prices rebound and reduce production losses . The factory's PTA settlement price for March was executed at 6,550 yuan/ton, and the PTA contract price for April was executed at 6,700 yuan/ton. Currently, the overall operating rate has dropped to about 67%. The market price is in the range of 6550-6600 yuan per ton, and the turnover is normal. The dealers are still mainly wait and see.

Due to the recent increase in crude oil prices and the improvement of external disk data, PX market stabilized and stabilized. On the 27th, Asian PX prices rose by US$14.5 to US$1199.5/t FOB South Korea and US$1222.5/t CFR Taiwan/China, and domestic factory prices also increased slightly. At present, the domestic PX operating rate is about 86%, and the domestic PX stock supply is stable. The load on the downstream areas started to rise slowly to about 77%. The market prices of polyester filaments in Jiangsu and Zhejiang were slightly raised, and the overall sales atmosphere was fair.

At present, the substantial reduction in the load on the PTA plant and the slow rise in the downstream polyester load have eased the contradiction between supply and demand. In the short term, the market will continue to rebound. However, the China Textile Industry Federation has recently focused on PTA/PET and the chemical fiber industry in the spring. According to research, the inventory of chemical fiber companies was 5 days higher. PTA companies are basically at a loss. It is expected that there will be an excess of 7.5 million tons of capacity in 2014. Under the background of excess capacity, it is expected that there will be no significant rebound action.

Textile exports declined Domestic consumption continued to slow Down Textile and apparel exports in February slowed down to 10.875 billion US dollars, a year-on-year decrease of 33.99%, a 62.01% month-on-month decrease, in which textile yarns, fabrics and products exported 4.217 billion US dollars, a year-on-year decrease of 28.38%, and garment and clothing accessories exports 66.58 billion U.S. dollars, a year-on-year decrease of 37.11%. In January-February, domestic retail sales of consumer goods totaled 4.28181 trillion yuan, a year-on-year increase of 11.8%, of which retail sales of textile and clothing products totaled 216.6 billion yuan, up only 8.70% year-on-year. The data on exports and domestic consumption was not optimistic. At the same time, the business community BCI index in March was -0.48, which was an increase of -1.56%, reflecting that the manufacturing economy continued to contract this month from the previous month, and the economic downside risk was intensified.

Some analysts believe that the current adjustment of the cotton policy is not clear, the excess capacity of chemical fiber, the terminal demand is not optimistic, is expected in April to adjust the main market volatility of the textile raw materials.