No Upward Pressure Has Been Found On The Top Of Zheng Cotton.

　　 Monday (June 28th) Zheng cotton The bottom has recovered, but the upper pressure has not been eliminated. The main contract 1101 contracts 180 thousand hands, compared with the previous trading day to reduce 80 thousand hands; hold 190 thousand hands, increase 4140 hands.

Judging from the price relationship between the contracts, the contract in recent months is difficult to fall due to the shortage of 16835,5.00,0.03% commercial stocks. Because the overall supply and demand is still rising, the probability of the 1101 contracts falling in the middle is very small. Although the 600 thousand tons of cotton throwing and storage project to a certain extent hit the market to do more confidence, but the downstream demand recovery of cotton, tight supply, spot prices rising and decreasing warehouse receipts all have strong support for Zheng cotton.

The China Cotton Association issued an industry early warning last weekend. It said that after approval by the State Council, the departments concerned will continue to issue some part of the quasi tax import quota in the near future, and the plan for throwing 600 thousand tons of storage is also approved. The trading rules have been completed and ready to start. Chinese cotton association Combined with the analysis of early warning system monitoring, it is considered that cotton resources are relatively adequate this year. Before that, many textile enterprises were actively buying at lower prices. Large and medium enterprises now have plenty of stock. Some large textile enterprises have 6 months of cotton consumption, and some medium-sized enterprises can keep the cotton reserves until the end of August.

In the spot market, domestic cotton Prices remain at a high level, and the 3 class cotton pickup price is generally above 18200 yuan / ton. Because of the high price, most textile enterprises choose to wait and see. China's cotton price index 3 grade cotton price 28 daily daily 18221 yuan per ton, compared with the previous day rose 34 yuan, continue to brush the highest in nearly ten years.