India's Restrictions On Cotton Yarn Exports Continue To Oscillate

Disk trend: 6 zhengmian 1109 contract opened at 27200 yuan / ton, closing at 27020 yuan / ton, compared with the previous trading day rose 165 yuan / ton, or 0.61%; turnover dropped to 1 million 861 thousand and 900 hands, increased 24770 hands to 243 thousand and 700 hands.

Message side:

1, the ICAC report shows that, despite the strong growth expected in the global economy, it is constrained by the limited supply of cotton and the high price of 2010/11.

2, it is reported that from mid November to late November, the cotton sales of International Cotton Traders and cotton traders are relatively smooth, and domestic cotton textile enterprises have increased the signing amount of high-grade cotton, West African cotton and Australian cotton. On the one hand, the 2010 quasi tax quota is due to expire in December 31st. With the sharp fall in international cotton prices, domestic and foreign cotton price spreads have widened and cotton textile enterprises' enthusiasm for imports has been restored. On the other hand, the cotton prices in 9 and October have risen sharply, resulting in a large number of cotton merchants in India to default. The cotton mills that originally planned to arrive in Hong Kong in December 11 and December failed to arrive on schedule, so domestic cotton spinning enterprises had to use imported quota again.

3 and December 3rd, China's main quotas for imported cotton continued to rise.

On the spot:

Warehouse Receipt Inventory: 59 registered exchange receipts, an increase of 4 copies compared with the previous trading day, with an effective forecast of 90 copies.

(each corresponds to 40 tons of cotton).

Main production area weather: affected by cold air, the next two days, Southeast Shaanxi, North and south central and Eastern, Eastern northeast, Huang Huai, Jianghuai, Jianghan, Jiangnan and other places will appear 6~10 degrees of cooling, including Southeast China, Huang Huai, Jianghuai, northeast of the Yangtze River and other parts of the cooling area can reach 12~16 degrees Celsius.

On the 8 night, another cold air entered the northern part of Xinjiang and moved eastward to the north of China.

In the next three days, there will be small to moderate snow or sleet in the southwest and northwest of Xinjiang.

Conclusion: India's news of limiting cotton yarn exports boosted the market, speculative funds bought and promoted US cotton to continue to stop trading; domestic policy regulation still suppressed cotton upward space; spot prices rebounded slightly, and textile enterprises began to purchase small quantities, and volume increased.

Zhengmian 1109 contract fell sharply, the price in the 28000 line has pressure, continue the trend of oscillation.

Operation, short and more participation, 27500 above cautiously catch up.