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The State Will Sell More Than 20000 Tons Of Reserve Cotton &Nbsp, Or Cotton Shares Will Damage The Textile Stocks.

2010/9/27 16:24:00 43

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Intermediate storage cotton

It dropped 20 thousand and 100 tons last Saturday, the thirty-third time it sold cotton reserves in August 10th.

Reduction in production expectations

In recent years, cotton prices have continued to rise. Although official dumping is intended to stabilize market prices, but because of strong sentiment in the market and high production expectations in the future, the trend of rising cotton prices is difficult to change, which will form a certain support for cotton stocks, but for the lower reaches of the market,

Textile stocks

There will be sustained pressure.

The Xinhua News Agency reported last Saturday that the news came from the Central Cotton store on Saturday.

The dumping involves 12 warehouses in 7 provinces.

This year, the total amount of reserve cotton reserves has reached 540 thousand tons, accounting for 90% of the 600 thousand tons of national cotton reserves.

In the last trading day before the holiday, cotton shares fell, new agricultural development (600359) fell 6.33%, textile stocks were mixed, and shares of URI (002083) closed up 1.03%, Huafang shares (600448) fell 3.45%; Zheng Mian's main contract closed up 5.78%, and the intraday high reported 21725 yuan / ton.

Review: the China cotton reserve management corporation wrote on the website of the SASAC that the departments concerned are paying close attention to the continuous rising trend of cotton prices, and will take corresponding measures to maintain the cotton prices basically stable.

Statistics show that last week, the domestic cotton market was stable and strong. In June 4th, the average price of the standard grade cotton in the mainland was 17516 yuan / ton, 1.1% higher than the previous week. The average price of the Chinese port on the port of import is 89.87 cents / pound, down 0.9% from the previous week.

According to the 1% tariff, the import cost of RMB equivalent is 15840 yuan / ton, 1676 yuan lower than the domestic market price, and the price difference is 338 yuan more than the previous week. According to the sliding tax, the import cost of RMB equivalent is 16257 yuan / ton, 1259 yuan lower than the domestic market price, and the price difference expanded by 337 yuan compared with the previous week.

China store cotton said that because the textile industry's continuous recovery is facing greater uncertainty, demand pull or weaken, so that cotton prices gradually return to reason.

In addition, China cotton reserves said that most cotton areas in the mainland are relatively ideal for cotton seedling, but the Xinjiang area is relatively weak.

The national cotton market monitoring system statistics show that the cotton planting area in the new year is flat and the output is expected to increase slightly.