Cotton Limit &Nbsp; Market Reappearance "Red Monday"
The domestic commodity futures market again ushered in "red Monday" in February 28th. The leading cotton futures in the early stage reversed the decline and closed down at the daily limit. The PTA futures rose by more than 4%, and sugar and rubber rose more than 2%.
On the cotton market last Friday night
American cotton
Under the stimulation of the daily limit, Zheng cotton's contracts swept away the haze. The main 1109 contract ended trading, closing at 32435 yuan / ton.
Holding positions, the large number of large additional positions, while a number of empty seats were substantially reduced, making the main gap between the long and short again widened.
Some analysts believe that after the Spring Festival, most of the domestic textile enterprises have not yet started fully.
cotton
Demand has not yet been fully released.
At the same time, in the face of high cotton prices, many manufacturers have adopted the strategy of "buying and selling with their products", which also slowed down the demand for cotton to a certain extent.
According to statistics, China imported 1 million 276 thousand tons of cotton in the first 4 months of 2010/11, an increase of 49.9% over the same period last year.
A large increase in domestic cotton to Hong Kong also alleviated the shortage of cotton supply in the short term.
With the rise of cotton futures, PTA's main 1105 contract ended at 11828 yuan / ton, up 456 yuan from the previous day's average price, or 4.01%, while the white sugar 1109 contract once hit 7300 points, indicating that the long counter attack intensified.
Yongan futures believes that the external environment has not yet stabilized.
European and American economies
The situation remains tense in the Middle East and North Africa, and there is a sharp fluctuation in the commodity price market.
In addition, in the face of rapidly rising prices, "anti inflation" has become an important task of this year's macroeconomic regulation and control, and domestic commodity prices will be dominated by low-key operation in the short run.
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