According To The Authoritative Department, The Export Tax Rebate Rate Will Be Reduced To 11% In The Middle Of This Year.

ICE Stage cotton The 9 day's closing was mixed, and the market was last week. commodity market After the fall, investors will adjust their positions before USDA's demand and supply report is released. The July contract fell 0.16 cents, and the settlement price was 1.454 dollars per pound, the lowest settlement price in nearly four months.

The year of Xiangcai futures Analyst Fang Huiling said that international commodities are Plunge After the whole rebound, the external atmosphere improved. Zheng cotton Demand for continued rebound in the short term. But at present, the external market environment is not stable, and domestic textile enterprises inventory backlog is still serious, downstream textile sales are not fixed, the situation of spot depression will still restrict the futures rebound space. The US Department of agriculture is about to announce the supply and demand report in May. The report will forecast the supply and demand of new cotton, and the market will also be cautious before the report.

The US Department of agriculture (USDA) reported in the weekly crop growth report that as of May 8th, the planting rate of US cotton (24410, -360.00, -1.45%) was 26%, compared to 18% in the previous week, 34% in the same period last year and 33% in five years.

According to the state-run company, as of May 8th, the domestic cotton arrival volume in spot market 2010/11 increased by 2.8% over the same period last year. According to its website, as of May 8th, the quantity of cotton arrived at 28 million 900 thousand bales (170 kg / bag), and the total volume was 28 million 100 thousand bales in the same period last year.

The news from authoritative departments confirmed that the export tax rebate rate will be lowered in the middle of the year, down 5% from 16% to 11%.

Domestic cotton spot market is still a languid pattern, textile enterprises Procurement indifference, market transactions continue to slump, the price of lint to the factory fell sharply, textile enterprises still have no obvious intention to replenish the library, some small textile mills extend the holiday time, ease the pressure on starting, the price of cotton textile enterprises continues to decline, sell cotton with tears, the textile factory wait-and-see sentiment is strong, the whole market is depressed. On the 9 day, the price of cotton in China (CCIndex328) was 25655 yuan / ton, or 421 yuan, compared with the 805 yuan for the futures contract in May.

The finished product inventory of the textile mill continued to backlog, the sales of pure cotton yarn was not smooth, the sale of polyester cotton yarn was relatively good, and the wait-and-see mood of the spinning factory continued to increase, and the downstream orders were not optimistic.

At the end of the week, most of the northern part of the country ushered in precipitation, alleviating the drought in some parts of the country. However, there was also no rainfall in the area. The drought continued. The Yangtze River Basin was affected by drought. Cotton could not be transplanted to the field. If cotton could not be transplanted to the field in the agricultural season, it would have an impact on the growth of cotton in the later stage.

On the 6 day, China's FC Index M index was 172.87 cents / pound, down 1.48 cents / pound, and the import cost was 28601 yuan / ton at 1% customs price, 28963 yuan / ton according to the sliding price. At present, the tariff import cost of 1% is 2946 yuan / ton higher than that of the domestic spot index (CCIndex328). With the gradual decline in the quotations of foreign cotton and the narrowing of the internal and external spreads, the interest of importing enterprises in foreign cotton has increased slightly recently. The main points of purchase are mainly the port consignment cotton and low price varieties. However, at this stage, cotton demand is far from being recovered, and the market recovery after the crash will take time to test.

Internationally, the ICE cotton futures closed on the 9 day. The market was consolidated after last week's market downturn, and investors adjusted their positions before the USDA supply and demand report was released. The July contract fell 0.16 cents, and the settlement price was 1.454 dollars per pound, the lowest settlement price in nearly four months. The cotton contract in December rose 1.49 cents, at 1.2378 US dollars per pound. The US Department of agriculture will announce the supply and demand report in May on Wednesday, including a preliminary estimate of cotton supply and demand in the 2011/12 market. On the domestic side, Zheng cotton futures rose sharply in May 9th, and the main 1109 contract opened at 24705 yuan / ton, the highest 24965 yuan / ton, the lowest 24535 yuan / ton, reported at 24845 yuan / ton, up 210 yuan, or 0.85%. The turnover was 2 million 140 thousand hands on that day, an increase of 21126 hands compared with the previous trading day, and the increase of 31844 hands was 415 thousand hands.

Technically, the main 1009 contract 6 day shock, the market moderate rebound, intraday high and closing prices are higher than the previous trading day, RSI and KDJ index lower fork, the short line continues to rebound demand, the disk is now stabilized. The market is increasing, and from the post position position, the positions of the first 20 institutions in the top 14723 positions after the cotton contract are aggregated are substantially increased by 14723 hands, with a single increase of 2273 hands, and the market clearance position is extended to 18209 hands. Among them, China International and Xin Hu futures have increased 4288 hands and 3216 hands respectively. The pressure of the bear market is still heavy, and the market is still in a weak position.