Home >

Cotton Market Or Stabilization

2011/6/29 15:03:00 51

??? 日本語 Fran?ais English 中文

[international spot]

Although yesterday's US contract fell in recent months,

Cotton merchant

Generally speaking, the short-term demand is generally favorable. Therefore, the price of the main port of China's cotton imports in June 28th basically remained stable compared with that of the previous day. Only C/A cotton and FiberMax cotton fell in the United States, but the remaining varieties remained unchanged.

Recently, domestic textile enterprises have begun to replenish the storehouse. Some cheap and good Southern Hemisphere varieties are favored by the spinning enterprises, while the sales of cotton and India cotton are slow and the quality is difficult to guarantee.

[International Futures]

In June 28th, under the pressure of continued downward pressure on cotton prices in China, ICE cotton futures were weak after opening, but with the decline in the US dollar and the general rise in commodity markets, cotton prices reversed the decline, but not much.

Analysts say investors will continue to wait and see before the US cotton coverage area is released.

December contract opening price of 121.80 (cents / pound, the same below), the highest price of 123.28, the lowest price 119.77, closing price 121.85, clearing price 122.01, 2 points, turnover 9963 hands, reduce 5786 hands.

On the same day, we registered 87439 packages, an increase of 2692 packages, and 43150 packages to be tested.

[domestic stock]

In June 28th, domestic cotton prices continued to decline. The national cotton price A index (CNCotton A) representing the 229 class cotton prices in the mainland was 26269 yuan / ton, down 46 yuan / ton compared with June 27th, and representing 328 cotton prices in the mainland.

Cotton price

The B index (CNCotton B) was 24306 yuan / ton, down 51 yuan / ton.

[Zheng cotton futures]

In June 28th, Zheng cotton continued to decline, partly spinning.

Raw material import

The tariff cuts continued to pressure the market, and the contracts closed at the lowest level since last October. The main position is increasing, and the short-term downward pressure is still there.

Among them, CF1107 contract average price 24200 yuan, fell 400 yuan; CF1109 contract average price 24325 yuan, fell 345 yuan; CF1111 contract average price 22990 yuan, fell 365 yuan; the market total turnover 1476066 hands, compared with the previous trading day reduces 81808 hands, accumulative total holds 617148 hands, increases 15020 hands.

[cotton information]

According to the report of the India meteorological department, the monsoon rainy season in most parts of India has been earlier than normal years since June, and the rainfall is also larger. The moving path of monsoon is generally in the south central northwest part. At present, there is rainfall in Eastern Rajasthan and eastern central bank.

The weather forecast shows that in most of the cotton producing areas in the coming days, rainfall will be coming. Rajasthan and Gujarat will have heavy rainfall.

Long term forecasts show that rainfall in the northern region may be slightly below the average level in the late rainy season this year, and rainfall in the southern region will be close to or slightly higher than normal. Therefore, it is estimated that the cotton yield per unit area in the southern region is expected to be higher than the average level in the next year.

[market review]

After a period of concussion, the 1109 contract showed signs of shock and weakness, and the possibility of a long squeeze was greatly reduced. This boosted the confidence of the bull in the air. It did not rule out that Zheng cotton could still get out of a short trend and close to the state's purchase and storage price.

However, crude oil has rebounded in recent days, making the international cotton temporarily stable, which will make the downward trend of cotton in the inner market tend to ease.