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Xiang Cai Prayer Year: Spot Dragged Zheng Cotton Will Be High Concussion In The Short Term

2011/2/16 16:34:00 42

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ICE cotton futures rose more than 2% on the 15 day, although other US agricultural futures prices, such as wheat, corn and soybeans, all fell. However, due to tight supply in the US cotton market, buyers were encouraged to make up for the recovery.

The March contract closed up 3.97 cents, or 2.13%, at $1.9002 a pound.

Fang Huiling, a futures analyst for the year of prayer, said that the purchasing power of raw materials of domestic textile enterprises is not strong at present, and the market is light and light, and wait-and-see sentiment is heavier, which is a drag on the cotton futures market.

However, the ICE cotton industry has been rising independently of the decline in its agricultural products.

supply and demand

The tight fundamentals keep the market bullish. The main force is firmly committed to holding a large number of orders. Zheng cotton has a limited downward trend and is expected to maintain high volatility in the short term.

The National Bureau of Statistics announced that CPI rose 4.9% in January compared with 6.6% in January.

CPI data is lower than market expectations, easing the market's concerns about the tightening policy, and has a short-term positive effect on the futures market.

But domestic prices are still relatively high, the prices of producer goods are rising fiercely, the inflation pressure is still large, and the policy tightening is not yet completed.

Domestic spot, domestic cotton

Goods in stock

Prices continued to rise, but the increase was significantly less than the previous few days.

Because cotton prices are generally high, textile enterprises are mainly based on inquiry, and the market purchasing power is not strong.

With the scarcity of high-grade cotton, cotton enterprises are also more reluctant to sell.

At present, most cotton prices in Xinjiang are quoted at 32200 yuan / ton and 33000 yuan / ton outside cotton, both sides are watching each other.

In February 15th, China's cotton price index (CCIndex328) was 29762 yuan / ton, up 47 yuan / ton.

The price closes at 32610 yuan / ton with the 1103 contract price of the futures contract of Zheng cotton futures, which is 2848 yuan / ton.

Because textile enterprises have made more efforts to replenishment and production slowed down before the Spring Festival, the most recent month

Cotton industrial Library

There is an increase in beings.

As of February 11th, the average daily use of cotton in the sample survey enterprises was about 42 days (including the quantity of cotton imported to Hong Kong), an increase of 6.8% in the ring ratio, an increase of 12.8% over the same period last year, an increase of 12.5% over the average three days in the past three years.

According to relevant data projections, the national cotton industry inventory of about 1 million 193 thousand tons, an increase of 6.8%, an increase of 12.3% over the same period, an increase of 11.3% over the past three years.

The cotton industry stock situation of the main provinces in the country is different, among which Fujian, Hebei and Jiangsu provinces have relatively large stock of cotton industry.

In February 15th, China's cotton import price index (FC Index M) was 213.76 cents / pound, down 3.78 cents, the import cost was 1% yuan customs price 35636 yuan / ton, according to the sliding price price 35929 yuan / ton.

At present, the tariff import cost of 1% is 5874 yuan / ton higher than the domestic spot index (CCIndex328), and the spot price of imported cotton is still far higher than domestic cotton price, which has a strong supporting role in the domestic market price.

On the international side, the ICE cotton futures closed up more than 2% on the 15 th. Although other US agricultural futures prices, such as wheat, corn and soybeans, all fell, but due to tight supply in the US cotton market, buyers were encouraged to make up for the recovery.

The March contract closed up 3.97 cents, or 2.13%, at $1.9002 a pound.

On the domestic side, Zheng cotton futures rose slightly on the 15 day, and the main 1109 contract opened at 32980 yuan / ton, the highest 33800 yuan / ton, the lowest 32850 yuan / ton, reported at 33430 yuan / ton, up 85 yuan, or 0.25%.

The turnover was 714 thousand hands on that day, an increase of 32078 hands compared with the previous trading day, and the increase of 7188 hands was 263 thousand hands.

From the domestic cotton market in Zhengzhou, on the disk, the main 1109 contract 15 days low opened after the rush to fall, the price closed near the 5 day moving average, technical indicators KDJ continued to diverge, MACD index red column gradually shorter, the technology side is still weak.

The market volume has increased, and the main force is still holding a large number of orders, which limits the downward trend of prices.

Disk on the 34000 yuan / ton resistance on the larger, 33000 yuan / ton below the strong support.