On February 17, Zheng cotton rose on the same day, and the main contract closed at 13,820 yuan/ton, up 100 yuan from the previous day. The domestic cotton supply remains sufficient, which keeps the pressure on Zheng cotton. However, with the gradual opening of the market after the year, the "Jinsan silver four" demand season is approaching, it is expected that Zheng Mian will continue to fall in space is limited, the overall will be a shock operation. The price of cotton in Zheng is affected by many factors. On the one hand, the cotton rise in ICE period has a driving effect on it. The correlation coefficient of the main price of the two has reached 0.73 in the past ten years, and the resonance operation is obvious. On the other hand, the market is expected to improve downstream demand, cotton textile enterprises have active replenishment expectations, and the purchase and sales of the industrial chain after the Spring Festival have gradually started, and the market sentiment is optimistic, which provide support for Zheng cotton prices.

Last week, the cotton shook a lot. USDA reported a neutral impact in February, with limited impact on prices. However, the lower dollar and stronger grains led to the rise of the United States cotton shock. Us cotton weekly contract data performance is general, as of February 6, the week of 2024/25 US cotton weekly contract 55,500 tons, a weekly increase of 30%, 14% lower than the four-week average, an increase of 88%, of which Bangladesh signed 12,300 tons, Vietnam signed 11,700 tons. Recently, Brazil's cotton planting accelerated, as of February 9, 2024/25 cotton planting completed 87.4%, an increase of 31.3 percentage points, down 7.9 percentage points year-on-year.

The domestic average price of 3128 cotton (B index) quoted 14882 yuan/ton, down 12 yuan. The average price (M index) of imported cotton from the main port to the port (M index) was 77.03 cents/pound, up 0.32 cents/pound from February 14, discounted 1% import cost of customs duty (excluding port incidentalfees) 13,439 yuan/ton, discounted sliding duty import cost (excluding port incidentalfees) 14,184 yuan/ton.

Cotton yarn futures prices rose, spot prices stable. The cotton yarn market as a whole is stable, and the downstream transaction is flat, but the willingness of textile enterprises to raise prices is still in. Local textile market sales are gradually on track, and market inquiries and raw material procurement are gradually recovering. Inquiries and transactions in the pure cotton yarn market have not changed significantly, textile enterprises have recovered to the level of December last year, enterprise inventories continue to increase slightly, and prices are mainly stable. The grey cloth factory has all started, the annual order is in delivery, the new order has been quoted and made samples, there is no large order issued, and the demand for traceable orders is more. Cotton yarn futures prices rose, one is supported by the rising price of raw cotton, and the second is that the market is optimistic about future demand, although the current downstream trading is flat, but the recovery of the local textile market and the willingness of textile enterprises to raise prices have promoted its price rise.

Polyester staple fiber futures fell, cost support weakened, but the market trading atmosphere has improved from the previous period, on February 17, polyester staple fiber quoted 6970 yuan/ton. The reason for the decline in its futures is mainly due to the weakening of cost support, as well as the possible oversupply situation, if the price of raw materials such as PTA and ethylene glycol falls or the trend is weak, and the increase in production, high inventories and demand does not improve, it will lead to a downward price.

Overall, under the interweaving of various factors in the cotton textile market, the price trend of various categories is differentiated, and the price trend remains to be continued attention with the further development of the market.