National Cotton Store Startup And Storage System ICE Cotton Trading Bleak

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< p > November 27th, < a href= "http://sjfzxm.com/news/index_s.asp" > the national cotton trading market < /a > issued news, from November 28th, through the national cotton trading market < a href= "http://sjfzxm.com/news/index_s.asp" > reserve cotton auction system < /a >, sold out part of the national reserve cotton.

State reserve cotton throwing and storage officially landed.

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< p > < a href= "http://sjfzxm.com/news/index_s.asp >" national reserve cotton throwing storage > /a > expected impact, domestic cotton spot is still weak, and the capital market is not large.

27, China's cotton index 328 cotton reported 19640 points, down 5 points.

The M cotton import price index rose 62 points to 89.55 cents / pound compared with the previous trading day.

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< p > reporter learned from < a href= "http://sjfzxm.com/news/index_s.asp" > China Cotton Association < /a >, the cotton picking work in the mainland has basically ended, but the cotton purchase market is still dull.

Analysts pointed out that due to slowing demand and increased inventory, the market oversupply increased concerns, ICE cotton prices in recent years has dropped to nine and a half months to a new low.

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< p > the difference between cotton price at home and abroad is still large, and the demand for downstream textile enterprises is still low, the inventory of products is large, and the willingness of cotton enterprises to replenish banks is not strong enough.

There will be a large number of high-quality cotton storage in the market after the sale of national cotton reserves. Although there is little difference between the price of cotton and the price of main contract, the excess supply will also bring pressure on cotton prices.

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< p > < strong > related links < /strong > < /p >

< p > < strong > < a > href= > http://sjfzxm.com/news/index_s.asp > > ICE > cotton > /a > 27 down more than 2% because China is ready to sell cotton stored in the state < /strong > /p >

During the P ICE, cotton fell more than 2% in the light trading on Wednesday, amid news that China will start selling its huge cotton reserves and investors will lock in profits before Thursday's Thanksgiving holiday.

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< p > China will start selling national cotton reserves from Thursday. The details of the auction are basically the same as expected, making the market more worried that this may affect the demand of Chinese cotton mills for overseas cotton.

China's cotton textile industry is second to none in the world.

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< p > the most active ICE-3 month cotton futures dropped to 77.44 lows, then rebounded, closing down 0.9%, at 78.44 cents per pound.

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< p > investors locked in profits because of concerns about the damage to cotton crops.

Tuesday cotton hit a three week high because a storm hit the key cotton growing area in the United States.

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< p > in the US < a href= "http://sjfzxm.com/news/index_s.asp" > Thanksgiving "/a" holiday, turnover is below the average.

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< p > ICE cotton market will be closed on Thursday, and resumed trading on Friday, but the opening date will be postponed to 8 a.m. Eastern time and will be closed at 1 p.m. EDT.

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< p > China cotton trading market said that it will sell the reserve cotton sale system from the national cotton trading market in November 28th and sell some of the national cotton reserves.

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< p > according to the information previously released by China cotton net, the minimum price set by the Chinese government for < a href= "http://sjfzxm.com/news/index_s.asp" > National storage cotton < /a > is RMB 18 thousand yuan per ton.

The price is in line with traders' expectations, which is about 70% higher than that of New York cotton.

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< p > > a href= "http://sjfzxm.com/news/index_s.asp" > dealer < /a > continue to digest the above news.

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