East Asian Futures: Cotton Is Going Up And Down &Nbsp, And The Callback Is Continuing.
30 days
Zheng cotton
1109 the contract is high and low.
It opened at 25250, the highest 25325, the lowest 24650, closing at 24715, down 200 points from the previous trading day (+0.80%).
Cotton index increased by 6588 hands, turnover of more than 1 million 450 thousand hands.
Internationally,
ice
(ICE) cotton futures were closed on Monday.
Index ICE-3 cotton contract CTH1 closed 4 cents higher, reaching limit of $1.1576 a pound, hitting a low of $1.121 in intraday trading.
Internationally, phase cotton is unique today and is not affected by the rise in the US dollar.
The market rebounded from oversold conditions.
The fundamentals of cotton are still in a tight state, and the fundamentals will support cotton prices.
In the spot market, China's cotton price index (328) is 26248 yuan / ton, down 41 yuan / ton.
In November 29th, the import cotton price index (FCIndex S) was 151.16 cents / pound, down 3.45 cents; 1% tariff 25589 yuan / ton, down 579 yuan / ton; discount sliding duty 25982 yuan / ton, down 574 yuan / ton.
As one of the early varieties,
cotton
In the current round of regulation and control, we have been given priority attention.
The Ministry of industry and Commerce yesterday issued a notice to help chemical fiber enterprises expand the supply channels of textile raw materials, and encourage enterprises to accelerate production and increase supply, so as to make up for the shortage of cotton.
In the short term, the impact of regulation is continuing.
However, domestic cotton shortage has not been improved, cotton supply is still tight, and spot prices are still rising.
With the release of the upper risk after the callback, cotton prices will gradually stabilize and return to fundamentals. Cotton prices will determine the reasonable price range.
Judging from the trend of the disk, cotton prices opened higher today after the last night's trading limit, but cotton prices fell all the way after opening, followed by the trend of turbulence, and 11 cotton prices dived again.
Short term cotton prices remain weak and weak, and regulatory policies still have a big impact on the market.
The operation proposal is based on wait-and-see, patiently waiting for bottom confirmation.
Cautious trading is not a good way to catch up.
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