Inside And Outside The Disk Fell Sharply Cotton Spot Loose

Last week (2.21-2.25), the political turmoil in the Middle East led to the global financial market turmoil, investors fled uneasily, and the electronic dishes inside and outside fell sharply.

With the sharp decline in the electronic disk, some enterprises that still need Inventory need to buy warehouse receipts on electronic discs, and other enterprises mainly rely on inquiry and wait and see.

The weekly average price of China's cotton price index (CC Index328) was 30344 yuan / ton, up 452 yuan from the previous week, 229 yuan 31303 yuan / ton, up 455 yuan, 527 yuan 27566 yuan / ton, up 273 yuan.

In the same period, the volume of electronic matching increased and the quantity of orders decreased.

I. domestic

Last week, China's cotton price index, which represents the spot price of cotton in China, was initially suppressed.

The political turmoil in the Middle East has led to the global financial market turmoil, and investors fled uneasily.

National cotton trading market electronic matching and Zhengzhou cotton last week for 5 consecutive days of decline, electronic matching contract in the past contract fell 30000 yuan / ton, then was bought to pull, the disk maintained 30000 yuan / ton above the shock.

The price of electronic disk has been loosened, and the price in some areas has been reduced by about 500 yuan / ton, but the price of Xinjiang cotton has been tight, and the sales attitude of cotton merchants has been loosening as the price has dropped.

In textile industry, the prices of upstream raw materials rose sharply after the Spring Festival.

At present, most parts of the the Yellow River River Basin are in drought, and some parts of Winter Wheat in early sown have already seen some crop failures. This area is likely to be converted to cotton by farmers. However, it is noteworthy that the acquisition process of the Yellow River, Hebei, Shandong and Henan provinces has slowed down this year. There are still many cotton seeds in the hands of cotton growers and cotton traders.

Two, electronic match: reduce volume, reduce the center of gravity.

Last week, the national cotton trading market made a total of 114220 tons of electronic cotton matchmaking pactions, an increase of 22020 tons compared with the previous week.

week

The main MA1105 contract volume is the largest, accounting for 45% of the total weekly turnover; two, the order volume has decreased significantly, and the order quantity of MA1103, MA1104 and MA1105 has decreased significantly, and the order quantity has been concentrated in the near and far month contracts. The MA1107 contract order volume has increased to 1640 tons at most, and the market has paid more attention to the forward price; three, when the highest price of the weekly merger is MA1107 contract 33200 yuan, the lowest price is 29965 yuan of MA1103 contract, when the weekly match price has dropped sharply, the average price of the contract has dropped to 31000 yuan per ton in recent months, with the average contract price of 32000 yuan per ton. The following are the characteristics of the week: first, the volume of weekly turnover has increased substantially, and the paction is mainly concentrated on the three contracts of MA1105, MA1106 and MA1107.

Three, the international market: turmoil in the Middle East political turmoil, crude oil rises, and the international spot cotton is advanced.

Last week cotton futures in the ICE period and the main contract fell for three consecutive days, including two days down, and the spot price of international cotton was also lowered.

On the international side, the situation in Libya was upheaval, crude oil prices rose sharply, and the buying and selling profits led to the decline in bulk agricultural products. In May, the 4 main trading days of the main contract were 3 700 point limit down, or more than 24%.

Friday in the peripheral capital market (stock market, metals, crude oil and staple crops) generally fell and rebounded sharply, ICE cotton twisting decline, a small volume, most of the contracts ended in the market.

When week, ICE cotton May contract week average price of 183.41 cents per pound, fell 9.15 cents a pound compared with the previous week, March contract weekly average price of 186.78 cents, 8.05 cents a pound, compared with the previous week, the international cotton spot price Cotlook index is 219.51 cents per pound, 2.83 cents a pound down the previous week.

Four, market outlook:

Last week, most of the agricultural products fell, which was in line with the expected price stability of the country, but cotton was affected by the supply and demand side. Cotton producers and cotton companies were optimistic about cotton prices above 300 million yuan / ton.

As cotton and cotton prices have risen sharply in a short period of time, coupled with the huge increase in factory labor costs this year, many of the downstream list can not be reduced, especially in the downstream mills and knitted garment factories of the cotton mill.

Even if the price of cotton is supported by supply and demand in the later stage, if the downstream textile orders are not good enough, the price will be sold at a discount, so the demand for cotton will also weaken, and the supply and demand side will not become a support for price rise.