加0.75%。消费端，新疆纺企基本开工，纺纱开机率回升，产成品库存增加，发运前期订单为主。短期利多 数据来源第三方(wind、同花顺、棉花信息网、棉花协会网)，观点仅供参考。市场有风险，投资需谨慎！ 棉花(纱)产业日报 2026-03-02 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 郑棉主力合约收盘价(日,元/吨) | 15225 | -170 棉纱主力合约收盘价(日,元/吨) | 21100 | -145 | | | 棉花期货前20名净持仓(手) | -191520 | -9605 棉纱期货前20名净持仓(手) | -1397 | -68 | | | 主力合约持仓量:棉花(日,手) | 794513 | -43467 主力合约持仓量:棉纱(日,手) | 14198 | -296 | | | 仓单数量:棉花(日,张) | 11327 | 155 仓单数量:棉纱(日,张) | 0 | 0 | | | 中国棉花价格指数:CCIndex:3128B(日,元 | 16633 | 中国纱 ...

何保证，据此投资，责任自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本 报告版权仅为我公司所有，未经书面许可，任何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发，需注明出处为 场对节后传统旺季预期。总体上，美棉价格上涨的同时，预计新疆植棉面积调控下降，提振国内棉市，预 研究员: 王翠冰 期货从业资格号F03139616 期货投资咨询从业证书号Z0021556 棉花(纱)产业日报 2026-02-24 计棉价震荡偏强运行。关注宏观消息影响。 免责声明 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 郑棉主力合约收盘价(日,元/吨) | 15285 | 545 棉纱主力合约收盘价(日,元/吨) | 21270 | 740 | | | 棉花期货前20名净持仓(手) | -132402 | -19350 棉纱期货前20名净持仓(手) | ...

停机放假，暂停对原料的采购，纱线库存明显增加。不过市场普遍存在植棉面积调减预期，对棉价形成有 力支撑。考虑到当前长假临近，短期暂且观望为主。 研究员: 王翠冰 期货从业资格号F03139616 期货投资咨询从业证书号Z0021556 免责声明 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任 何保证，据此投资，责任自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本 报告版权仅为我公司所有，未经书面许可，任何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发，需注明出处为 瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引用、删节和修改。 棉花(纱)产业日报 2026-02-12 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 郑棉主力合约收盘价(日,元/吨) | 14790 | 45 棉纱主力合约收盘价(日,元/吨) | 20655 | 65 | | | 棉花期货前20名净持仓 ...

棉花(纱)产业日报 2026-02-09 的状态。据Mysteel调研显示，截至2月5日，进口棉主要港口库存周环比增加4.14%，总库存51.59万吨。 数据来源第三方(wind、同花顺、棉花信息网、棉花协会网)，观点仅供参考。市场有风险，投资需谨慎！ 下游纺企陆续停机放假，暂停对原料的采购，纱线库存明显增加。考虑到当前长假临近，短期暂且观望为 研究员: 王翠冰 期货从业资格号F03139616 期货投资咨询从业证书号Z0021556 主。 免责声明 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任 何保证，据此投资，责任自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本 报告版权仅为我公司所有，未经书面许可，任何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发，需注明出处为 瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引用、删节和修改。 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | ...

棉花(纱)产业日报 2026-02-04 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任 何保证，据此投资，责任自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本 报告版权仅为我公司所有，未经书面许可，任何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发，需注明出处为 瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引用、删节和修改。 免责声明 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 郑棉主力合约收盘价(日,元/吨) | 14680 | 30 棉纱主力合约收盘价(日,元/吨) | 20595 | 180 | | | 棉花期货前20名净持仓(手) | -117884 | 8739 棉纱期货前20名净持仓(手) | -1374 | 115 | | | 主力合约持仓量:棉花(日,手) | 716331 | -1549 主力合约持仓量:棉纱(日,手) | 8752 | 42 ...

，其中，山东地区青岛、济南港口及周边仓41.3万吨，同比减少2.93%，江苏地区张家港港口及周边仓库进 研究员: 王翠冰 期货从业资格号F03139616 期货投资咨询从业证书号Z0021556 口棉库存约3.50万吨，其他港口库存约2.94万吨。考虑到当前长假临近，短期暂且观望为主。 免责声明 棉花(纱)产业日报 2026-02-03 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 郑棉主力合约收盘价(日,元/吨) | 14650 | 75 棉纱主力合约收盘价(日,元/吨) | 20415 | 10 | | | 棉花期货前20名净持仓(手) | -126623 | -9362 棉纱期货前20名净持仓(手) | -1489 | -87 | | | 主力合约持仓量:棉花(日,手) | 717880 | -1626 主力合约持仓量:棉纱(日,手) | 4497 | -387 | | | 仓单数量:棉花(日,张) 中国棉花价格指数:CCIndex:3128B(日,元 | 10400 | 7 ...

棉花(纱)产业日报 2026-02-02 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 郑棉主力合约收盘价(日,元/吨) | 14575 | -95 棉纱主力合约收盘价(日,元/吨) | 20405 | -90 | | | 棉花期货前20名净持仓(手) | -117261 | 19409 棉纱期货前20名净持仓(手) | -1402 | 391 | | | 主力合约持仓量:棉花(日,手) | 719506 | -33772 主力合约持仓量:棉纱(日,手) | 4884 | -1005 | | | 仓单数量:棉花(日,张) 中国棉花价格指数:CCIndex:3128B(日,元 | 10325 | 36 仓单数量:棉纱(日,张) | 0 | 0 | | | 中国进口棉价格指数:FCIndexM:1%关税( | 16070 | -113 中国纱线价格指数:纯棉普梳纱32支(日, | 21455 | 25 | | | /吨) | | 元/吨) | | | | 现货市场 | | 12377 ...

棉花(纱)产业日报 2026-01-28 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 郑棉主力合约收盘价(日,元/吨) | 14940 | 375 棉纱主力合约收盘价(日,元/吨) | 20725 | 305 | | | 棉花期货前20名净持仓(手) | -142878 | 14068 棉纱期货前20名净持仓(手) | -1857 | -255 | | | 主力合约持仓量:棉花(日,手) | 823272 | 36619 主力合约持仓量:棉纱(日,手) | 10465 | -710 | | | 仓单数量:棉花(日,张) 中国棉花价格指数:CCIndex:3128B(日,元 | 10209 | 4 仓单数量:棉纱(日,张) | 0 | 0 | | 现货市场 | | 15933 | -20 中国纱线价格指数:纯棉普梳纱32支(日, | 21365 | 0 | | | /吨) 中国进口棉价格指数:FCIndexM:1%关税( | | 元/吨) | | | | | | 12502 | 1 ...

Report Industry Investment Rating - No information provided Core Viewpoint - The cotton price is expected to maintain a volatile and upward - trending pattern in the future, driven by factors such as festival stocking and a reduction in cotton - planting area. Although the domestic cotton commercial inventory is at a high level, the short - term inventory pressure is controllable due to the combination of downstream rigid demand replenishment and the expectation of reduced planting in the future [2] Summary by Relevant Catalogs Futures Market - Zhengzhou cotton main contract closing price is 14,650 yuan/ton, down 45 yuan; cotton yarn main contract closing price is 20,515 yuan/ton, up 10 yuan - Cotton futures top 20 net positions are - 155,478 lots, an increase of 8,641 lots; cotton yarn futures top 20 net positions are - 1,505 lots, an increase of 331 lots - Cotton main contract open interest is 795,878 lots, down 7,457 lots; cotton yarn main contract open interest is 13,284 lots, down 987 lots - Cotton warehouse receipt quantity is 10,144 sheets, an increase of 172 sheets; cotton yarn warehouse receipt quantity is 0 sheets, unchanged [2] Spot Market - China Cotton Price Index (CCIndex:3128B) is 15,995 yuan/ton, up 125 yuan; China Yarn Price Index (pure cotton carded yarn 32s) is 21,365 yuan/ton, unchanged - China Imported Cotton Price Index (FCIndexM:1% tariff) is 12,445 yuan/ton, down 69 yuan; China Imported Cotton Price Index (FCIndexM: sliding - scale tariff) is 13,633 yuan/ton, down 51 yuan - The arrival price of imported cotton yarn price index (pure cotton carded yarn 32s) is 21,068 yuan/ton, up 2 yuan; the arrival price of imported cotton yarn price index (pure cotton combed yarn 32s) is 22,557 yuan/ton, up 2 yuan [2] Upstream Situation - The national cotton sowing area is 2,838.3 thousand hectares, an increase of 48.3 thousand hectares; the national cotton output is 6.16 million tons, an increase of 0.54 million tons - The cotton - yarn price difference is 5,370 yuan/ton, down 125 yuan; the national industrial inventory of cotton is 848,000 tons, down 2,000 tons [2] Industry Situation - The monthly import volume of cotton is 180,000 tons, an increase of 60,000 tons; the monthly import volume of cotton yarn is 170,000 tons, an increase of 20,000 tons - The daily profit of imported cotton is 2,237 yuan/ton, an increase of 82 yuan; the national commercial inventory of cotton is 5.7847 million tons, an increase of 1.1011 million tons [2] Downstream Situation - The inventory days of yarn are 25.12 days, down 1.21 days; the inventory days of grey cloth are 33.76 days, up 1.42 days - The monthly output of cloth is 3.01 billion meters, an increase of 0.2 billion meters; the monthly output of yarn is 2.132 million tons, an increase of 93,000 tons - The monthly export value of clothing and clothing accessories is 134,124,120,000 US dollars, an increase of 18,187,260,000 US dollars; the monthly export value of textile yarns, fabrics and products is 125,796,030,000 US dollars, an increase of 3,038,700,000 US dollars [2] Option Market - The implied volatility of at - the - money call options for cotton is 12.13%, down 0.75%; the implied volatility of at - the - money put options for cotton is 12.16%, down 0.7% - The 20 - day historical volatility of cotton is 14.8%, up 0.08%; the 60 - day historical volatility of cotton is 9.45%, up 0.01% [2] Industry News - According to the USDA report, in the week ending January 15, the net export sales of US upland cotton in the 2025/26 season increased by 412,500 bales, reaching the annual high, a 21% increase from the previous week and a 119% increase from the average of the previous four weeks. The export shipment volume of US upland cotton in the 2025/26 season was 187,800 bales, a 20% increase from the previous week and a 26% increase from the average of the previous four weeks - According to a Brazilian authoritative institution, in December 2025, Brazil exported 452,500 tons of cotton, a 28.2% year - on - year increase. In the first five months of the 2025/26 season, the cumulative export volume was 1.405 million tons, a 15.7% year - on - year increase, reaching the highest export volume from August to December in history [2]

Report Summary 1. Report Industry Investment Rating No information provided. 2. Report's Core View - ICE cotton futures fell on Wednesday due to concerns about the global economy and geopolitical instability, and the market awaited demand signals. The ICE March cotton futures contract settled down 0.04 cents, or 0.06%, at 64.30 cents per pound. - In the domestic market, the national cotton commercial inventory is rising, and market supply is relatively sufficient. Brazilian cotton is arriving in large quantities, further increasing the inventory. - On the downstream demand side, the price of high - count yarn is firm, but overall market demand is weak. However, driven by cost, yarn prices remain stable, and the rebound in China's textile and clothing export growth in December still supports the market. - On the market, supported by stocking demand, it is expected to fluctuate strongly in the short term. [2] 3. Summary by Relevant Catalogs 3.1 Futures Market - Zhengzhou cotton main contract closed at 14,730 yuan/ton, up 195 yuan; cotton futures top 20 net positions were - 152,789 lots, up 3,158 lots; main contract cotton positions were 799,956 lots, up 12,765 lots; cotton warehouse receipts were 9,944 lots, up 301 lots. - Cotton yarn main contract closed at 20,500 yuan/ton, up 15 yuan; cotton yarn futures top 20 net positions were - 1,850 lots, down 189 lots; main contract cotton yarn positions were 15,805 lots, down 1,156 lots; cotton yarn warehouse receipts were 59 lots, down 11 lots. [2] 3.2 Spot Market - China Cotton Price Index (CCIndex:3128B) was 15,839 yuan/ton, up 20 yuan; China Yarn Price Index (pure cotton carded yarn 32 - count) was 21,320 yuan/ton, unchanged. - China Imported Cotton Price Index (FCIndexM:1% tariff) was 12,514 yuan/ton, unchanged; China Imported Cotton Price Index (FCIndexM:sliding - scale duty) was 13,684 yuan/ton, unchanged. - Imported cotton yarn price index (pure cotton carded yarn 32 - count) arrival price was 21,066 yuan/ton, down 6 yuan; imported cotton yarn price index (pure cotton combed yarn 32 - count) arrival price was 22,555 yuan/ton, down 6 yuan. [2] 3.3 Upstream Situation - The national cotton sowing area was 2,838.3 thousand hectares, up 48.3 thousand hectares; the national cotton output was 6.16 million tons, up 540,000 tons. - The cotton - yarn price difference was 5,481 yuan/ton, down 20 yuan; the national industrial cotton inventory was 850,000 tons, up 65,000 tons. [2] 3.4 Industry Situation - Cotton import volume was 120,000 tons, up 30,000 tons; cotton yarn import volume was 150,000 tons, up 10,000 tons. - Imported cotton profit was 2,135 yuan/ton, up 1 yuan; the national commercial cotton inventory was 4.6836 million tons, up 1.753 million tons. [2] 3.5 Downstream Situation - Yarn inventory days were 26.33 days, up 0.21 days; grey fabric inventory days were 32.34 days, up 0.37 days. - Cloth output was 2.81 billion meters, up 0.19 billion meters; yarn output was 2.039 million tons, up 38,000 tons. - Clothing and clothing accessories export amount was 11,593,686 thousand US dollars, up 590,205.57 thousand US dollars; textile yarns, fabrics and products export amount was 12,275,733 thousand US dollars. [2] 3.6 Option Market - Cotton at - the - money call option implied volatility was 12.11%, up 0.12%; cotton at - the - money put option implied volatility was 12.12%, up 0.16%. - Cotton 20 - day historical volatility was 14.16%, down 0.02%; cotton 60 - day historical volatility was 9.1%, unchanged. [2] 3.7 Industry News - Cotton textile enterprises' cotton industrial inventory was increasing steadily and was at a high level compared to the same period last year. As of the end of December, the in - stock cotton industrial inventory of textile enterprises was 983,800 tons, up 44,200 tons from the end of last month. - Brazil's new cotton sowing continued. As of the week of January 17, the planting rate of Brazil's 2025/26 cotton was 36.3%, slower than last year but faster than the five - year average, 7.9 percentage points higher than the five - year average. [2]