Cotton Supply Is Still Relatively Tight &Nbsp; The Drop In Space Is Limited.
On the 8 day, Zheng Mian 1109 contracts low and low. Low opened at 27000, the highest 27110, the lowest 26660, closed at 26730, compared with the previous trading day fell 270 points (-1.00%).
Cotton index increased by 31080 positions. volume More than 1 million 10 thousand hands. On the international side, the ICE cotton futures continued to lower on Tuesday. Index ICE-3 cotton contract fell 0.06 cents, 1.3037 U.S. dollars per pound, the trading range of 1.2821-1.3425 U.S. dollars.
Internationally, the market is in a consolidation pattern. Buyers choose cautious watch before the report of USDA on Friday. Market participants expect that the volume of transactions will remain relatively low before the monthly report on demand and supply is released on Friday by the US Department of agriculture (USDA). In addition, market participants have shifted their focus to cotton planting expectations in the spring of 2011, such as the United States and China, which will focus on whether the two countries can produce more cotton.
In the spot market, China's cotton price index (328) is 26756 yuan / ton, up 117 yuan / ton. December 7th Imported cotton Flower price index (FCIndex S) was 165.70 cents / pound, down 1.46 cents; 1% tariff 27921 yuan / ton, down 244 yuan / ton; discount sliding duty 28291 yuan / ton, down 242 yuan / ton.
Domestic cotton fundamentals have not changed, the shortage has not been improved, and cotton supply is still tight. In the industrial chain, cotton intermediate enterprises purchase cotton at a high price in the early stage, and they are reluctant to sell at low prices, waiting for the price to be callback. The impact of short-term policy is still on the way, but with the gradual stabilization of cotton prices, the latter stage trend Will return to fundamentals, the market will gradually determine its reasonable price range.
Judging from the trend of the disk, cotton prices continue to fall below the influence of the outside market today, and all the way down and down below the 5 day line. Cotton prices have been confirmed at the bottom after breaking the bottom shock zone. Judging from the price difference, cotton contracts in the near future are smaller than the forward contracts, and the supply of cotton is still tight. The short-term market is still cautious under the influence of regulation and control, but there is little room for further decline. The operation proposal will continue to hold, but the position should not be too heavy.
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