International Commodities Rose By &Nbsp; How Long Can Cotton Last?

May 20th

On the 23 day, Zheng cotton opened up a concussion and the trend was weak, but it was stronger than other varieties. It was also stronger than the market. Zheng cotton continued to narrow its concussion in May 24th, and Zheng cotton was still pressed by the 5 day moving average.

1109 the contract ended at 25000, the settlement price rose 901201 compared with the previous day, and the final settlement was 23305. The settlement price increased 1651109 compared with the previous day, and the contract price difference between the 1201 contract and the 1201 contract decreased to 1695.

At the end of the close, Zheng cotton increased its total turnover by 38 thousand and 500 hands, and the turnover increased by 138 thousand. 1109 of the contracts increased by 24 thousand and 700, while the 1201 contract volume decreased by 14 thousand compared with the previous day.

From a technical point of view, the 5 day line of Zheng cotton's pressure is weak.

23, the domestic cotton spot trend is basically stable, the downstream textile enterprises have resumed production, but the textile enterprises are still selling cotton yarn inventory, some cotton spinning enterprises yarn stock pressure is still very large.

Cottonseed prices rose slightly compared with the previous day. In some parts of Shandong, cottonseed prices were higher at 1.46-1.52 yuan / Jin, up 0.01 yuan from the previous day, but buying and selling were still relatively light.

The average price of cotton lint market is 7000-7500, the lower price is 6300-6500, and the market is stable.

Domestic polyester staple fiber is currently 12650 yuan / ton, higher than the previous day, viscose staple domestic average price of 21100 yuan / ton, down 200 compared with the previous day.

Zheng cotton continued to shake up on the 23 day, but the stock index fell sharply in May 24th. Domestic indexes and commodities were generally down. Although cotton showed strong resilience, the fundamentals did not have enough support to be cautious.

The central line of Zhengzhou cotton market is still dominated by horizontal shocks, but we should pay close attention to the impact of financial market turbulence on the market.