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The Short-Term Market Is Still Under The Influence Of Regulation And Control.

2010/12/10 13:21:00 66

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9 days

Zheng cotton

1109 the contract is high and low.

It opened at 26850, the highest 26980, the lowest 26330, closing at 26425, down 345 points from the previous trading day (-1.29%).

Cotton index decreased by 5210 positions, turnover of more than 1 million 220 thousand hands.

Internationally, cotton futures for Intercontinental Exchange (ICE) closed higher on Wednesday.

Index ICE-3 cotton contract rose 1.58 cents, 1.3195 U.S. dollars per pound, the trading range of 1.2642-1.3372 U.S. dollars

Internationally, market participants are still more cautious before the USDA report released on Thursday and Friday.

In addition, market participants have shifted their focus to cotton planting expectations in the spring of 2011, such as the United States and China. They will focus on whether these two countries can produce more cotton. Informa Economics raised the estimated US cotton planting area in 2011 to 12 million 200 thousand acres, four years high, and 10 million 909 thousand acres higher than 12%. in 2010.

Goods in stock

market

China's cotton price index (328) is 26769 yuan / ton, up 13 yuan / ton.

December 8th

Imported cotton

The price index (FCIndex S) is 165.70 cents / pound, stable; 1% customs duty 27921 yuan / ton, stable; 28291 yuan / ton discount tax, stable.

Domestic cotton fundamentals have not changed, the shortage has not been improved, and cotton supply is still tight.

In the industrial chain, hoarding cotton enterprises are buying a lot of cotton at a high price in the early stage, and are reluctant to sell at low prices, waiting for the price to be callback.

The general stock of the mill remained at 1-2 months, and the demand for replenishment was expected before and after the Spring Festival.

Although short-term policy factors remain, but as cotton prices gradually stabilized, the latter trend will return to fundamentals, the market will gradually determine its reasonable price range.

Judging from the trend of the disk, cotton prices opened higher today after the opening of the outside market. After the opening, they also went up and down all the way, up to 26850, but then there was a two wave of diving.

Cotton prices rebounded to more than 14% in the current round, with a callback above the 27000 integer pass pressure.

The short-term market is still in turmoil under the influence of regulation and control, but there is little room for the latter to drop.

The operation suggests that many heads continue to hold, but the position should not be too heavy.