The Spot Price Of Cotton Is Strong &Nbsp; The Market Outlook Is Much Closer To The Sky.

US cotton continued its downward trend. Yesterday, it fell below 75 cents per pound. It broke the trend technically. Although it has fallen for several consecutive days, the current price has a rebound demand in the short term, but it is difficult to suppress the above 75 cents and short-term average.

According to the latest report released in ICAC7 month,

Domestic Zheng cotton fell slightly today, September contract closed at 18185 yuan per ton, down 45 points, the short-term average is about to form a dead fork, or there will be further callback action.

The national cotton index is still strong, and today's offer is 18393 yuan per ton, up 10 yuan.

Although the spot quotation of cotton keeps strong, the wait-and-see mood of some purchasing enterprises has gradually increased, and the quotation of cotton yarn has loosened in some areas. With the strengthening of the country's regulation and control in the aftermarket and the arrival of the traditional off-season of textile industry, the pre market strong pattern will change.

Technically, although the recent contracts show signs of short-term callbacks, the pattern of near strong and far weaker is still evident. In recent months, contracts have been boosted by spot demand, and the performance will remain relatively low in the near future. We have been advocating more near air operations. The price differentials have expanded by 250 points since July, and there is still room for expansion.