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The European Debt Crisis And China'S Cotton Price Drop Made The US Cotton Hit A 9 Month Low.

2011/7/12 18:15:00 54

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Worried about the euro zone debt crisis affecting economic growth, while the US dollar appreciated sharply, China's cotton price in the biggest consumer countries fell sharply on Monday. The multiple negative factors made ICE fall on Monday, hitting a 9 month low, dropping 5 cents to 108.88 cents / pound in December, and losing 113 cents / pound of the first line support, and the downtrend will continue.

But the analysis shows that the main force that led to the fall in cotton prices is mainly from the opening positions.

ICE cotton

It has not suffered too much active selling, and at the same time, USDA will announce the supply and demand report in July. This may reduce the output of US cotton. In this case, it is advisable to be cautious.

Technically, the ICE period cotton fell again, the main contract in December 113 cents / pound support fell, cotton prices were broken down pattern, the current average system maintained a good fall in the arrangement, MACD and KD indicators continue to fall short, MACD index green pillar growth, the trend will continue, December contract after 113 cents / pound support failure, the next support from 97 cents / pound line.

Weak consumption leads to

Zheng cotton

It fell sharply again on Monday, and it is rumoured that a big factory in Shandong lowered its grade three cotton on Friday.

Purchase

After the price was 1500 yuan / ton to 22000 yuan / ton, the purchase price of grade four cotton was reduced from 500 yuan to 20900 yuan per ton on the 11 day. The fall of cotton price once again caused panic in the market, and the stock of cotton yarn in textile enterprises remained high. At present, the cotton market is less than 2 months from the new cotton market. The selling of spot traders will make cotton prices continue to fall.