In The Futures Market, Cotton Prices Are Picking Up And Zinc Prices Are Rising.

Since August 1st, the times has implemented a new policy for the export rebate rate of textiles, clothing and other commodities.

Among them, the export tax rebate rate of some textiles and garments increased from 11% to 13%, and the export tax rebates for products such as zero zinc were abolished.

On the 31 day of the news, Zheng cotton, who lingered at a low level for 7 consecutive days, finally got out of the declining trend and went out of the rally for two consecutive days. Shanghai zinc once rose strongly, but then fell rapidly, because the market expects to cancel the export tax rebate of super high purity zinc, which will lead to an increase in domestic supply.

　　農產品慘綠鄭棉收紅

Yesterday, Zhengzhou cotton futures continued to rise in July 31st to achieve high early opening. After opening, all contracts were oscillating upward to maintain high ranking.

At the end of the season, the domestic market for agricultural products (000061, stock bars) was miserable and green.

Zheng cotton main 901 futures contract opened at 14420 yuan / ton, closing at 14470 yuan / ton, up 135 points, or 0.94%.

Judging from the 1 day disk, the market began to regain confidence.

CF901 continued to receive three lines, the price center of gravity lifted slightly, the volume of trading was substantially reduced throughout the day, and the position was slightly reduced. The market outlook is expected to be above the 10 day moving average, and the 20 day moving average will be under shock.

Li Panfeng, a senior analyst at bate futures, said that the rise and fall of domestic cotton supply and demand will pave the way for Zheng cotton to get out of the slow bull market, but the market size of Zheng cotton futures will be one of the main obstacles to multiple hair power.

Southwest futures related analysts believe that the export rebate rate of textile and clothing increased from 11% to 13%, which helps the domestic textile industry to pick up.

Zheng cotton has been gradually stabilized by this positive effect, and is expected to get out of a round of rebound in the short term.

And domestic cotton stocks are too many, and complete digestion still needs a process.

However, the industry believes that the upgrading of textile export tax rebates to downstream demand is not optimistic, PTA futures are still difficult to change its fundamentals.

　　滬鋅強勁反彈隨即回落

In July 31st, Shanghai and zinc, supported by the abolition of tax rebate, rose rapidly.

The main contract 0810 opened high in the air, and the late exit was greatly encouraged by the cancellation of the export tax rebate policy. It ended up at 15580 yuan / ton, up 235 yuan or 1.53% on Monday.

However, the Shanghai zinc futures settlement price fell yesterday, and the Shanghai zinc main 0810 contract went down and down again, hitting the 20 day moving average again, which is still in the early stage of oscillation.

Some analysts pointed out that the main reason is that the market is expected to cancel the export tax rebate of ultra high purity zinc, which will lead to an increase in domestic supply.

Shenyin Wanguo analyst Li Junchao believes that the cancellation of export tax rebates has little effect on the trend of Shanghai zinc market.

Some analysts believe that the zinc will be weakened again by copper prices, or will start a new round of decline.