After the Spring Festival, driven by the overall surge in crude oil, non-ferrous metals, chemical and other commodity futures, Zheng Mian started a strong supplementary market. The CF2105 contract exceeded 16,500 yuan/ton, and the sword pointed to the third target of 17,000 yuan/ton. "The spring breeze is proud of the horseshoe, and I can see Chang'an flowers overnight." The spot prices of domestic cotton and cotton yarn have been rising all the way, and the previous downturn has been wiped out.

Complementing the surge in cotton futures, the other two major cotton spinning materials, 1.4D polyester staple fiber and 1.5D viscose staple fiber, also rose sharply. From February 20 to 21, the ex-factory price of polyester staple fiber in Jiangsu, Zhejiang, Fujian, Shandong and other places was generally raised to 7,300-7,400 yuan/ton, and the quotation of viscose staple fiber exceeded 15,100 yuan/ton, which was driven by a sharp increase in crude oil/PTA and other crude oils. Under the circumstance, cotton substitutes polyester staple fiber and viscose staple fiber are also booming.

According to the survey, since mid-February, cotton yarns in Jiangsu, Henan, and Shandong have risen at 500-1000 yuan/ton, and high-count carded and combed cotton yarns of 50S and above have generally risen at 1000-1300 yuan/ton, but pure polyester Yarn only reported an increase of 200-300 yuan/ton. A textile company in Xuzhou, Jiangsu stated that there are three main reasons why spinning mills dared to follow Zheng Mian’s increase in yarn prices: First, cotton yarn inventory is relatively low before the Spring Festival (especially some large and medium-sized spinning mills have lower inventory of high-count yarns of 60S and above) , The price of yarn adjusts rapidly with the fluctuation of raw materials such as cotton and polyester staple fiber to minimize the risk; second, the number of uncompleted and undelivered orders as of the Spring Festival is not large, and the adjustment of yarn price will affect the medium and long-term orders Relatively limited; thirdly, the capital flow of yarn mills is relatively abundant, and the operating pressure in March-April is not prominent, allowing downstream weaving companies, garment factories and terminal orders to reserve enough time for acceptance and digestion, paving the way for the smooth rise of yarn prices the way.

At present, the resumption rate of domestic cotton textile mills, fabrics, and apparel enterprises has recovered to 80-90%. A few spinning mills have begun to inquire and purchase raw materials such as cotton and polyester staple fiber. At present, orders for domestic sales and foreign trade are coming from March to April, and there are still some contracts that need to be rushed before the holiday. Supported by the external market and fundamentals, ICE and Zheng Mian resonated. Downstream weaving and fabric companies and garment factories are expected to purchase from the end of February to early March. The quotations of cotton yarn and polyester-cotton yarn have risen sharply. It is necessary to accelerate the transmission of cost growth pressure to downstream terminals, and it takes time for negotiation, stalemate, and acceptance. An import and export company in Zhejiang believes that the pressure of rising prices of cotton, cotton yarn, polyester-cotton yarn, etc. is likely to be shared by cloth factories, clothing companies (or foreign trade companies), purchasers (including foreign brand companies, retailers) and other parties. A large price increase in a certain link alone cannot be solved, and all parties in the terminal need to make concessions.