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Market Supply Worries Worry &Nbsp; Zheng Cotton Soar To The Scene.

2011/1/24 16:45:00 71

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Zhengzhou cotton futures reappeared sharply on Monday. The main 1109 contract opened at 31210 yuan / ton, noon closed at 32165 yuan, up 1665 yuan compared with last Friday (January 21st), or 5.46%.

Worries about market supply and the recent weakness of the US dollar have once again boosted the cotton market's sharp rebound.

Analysts pointed out that although close

Stage cotton

The price is still expected to continue to be high. However, with the approaching of the Spring Festival holiday, the domestic cotton textile enterprises' suspension of work and holiday has gradually increased, the market sentiment has declined, and a lot of funds will also withdraw from the wait-and-see. Therefore, the possibility of a continuous increase in pre production period before the festival will not be too great.

Due to supply worries, the fund and speculative buying drive and the recent weakness of the US dollar once again raised the US cotton futures trading limit.

On the international market fundamentals, India officials said they had temporarily maintained 935 thousand tons of export quotas unchanged, but India agriculture minister Sharad Pawar said last Friday that India might consider allowing it.

Exit

More cotton, as of September.

market

The annual cotton output will exceed the original estimate.

Due to the fact that global cotton stocks are at low levels for many years, natural disasters in China and Pakistan have been determined to cut production, and the flooding of large cotton growing areas in Australia has further exacerbated global supply tensions.

Analysts said that the global market once again turned to India to meet demand. India's previously announced quota keeping is one of the main factors to promote the recent surge in cotton futures in the outer market. However, the changing policy of India can be described in a fog, so we should pay attention to its latest progress in early February.

According to China's weather network 21 reported that the cold and warm air together, the next three days, the northern part of Xinjiang, northeast Inner Mongolia, Heilongjiang, southeastern part of the northwest, the western part of the western plateau and the southwest part of the Middle East, most parts of the Jianghan, the south of the Yangtze River, the western part of Southern China and other places have small to moderate snow (rain) or sleet. Among them, some parts of northern Xinjiang along the Tianshan Mountains and southeastern parts of Gansu have moderate to heavy snow; there are freezing rain in some parts of the northeast of Yunnan and parts of the middle and west part of Guizhou.

Recently, most areas in the northern part of China have seen a slight increase in precipitation, which has eased the pport.