Fundamentals Are Not Conducive To A Sustained Rebound In Cotton Prices.

The 1509 month contract of Zheng cotton futures rose at 30 yuan on Monday, closing at 13275 yuan, closing 84558 hands and holding about 349 thousand hands.

On the spot side, China's cotton price refers to the number of 3128B, the cotton newspaper 13359 points, up 3 points, the spot price is generally stable, and the market fundamentals have changed slightly.

This increase will affect the procurement of raw materials for the upstream and downstream businesses, and there will be more speculation in the market. The parties will wait for the implementation of the relevant information, which will make the domestic phase.

Pressure increases, and ICE cotton futures prices fell sharply, zhengmian futures is expected to fall recently, the market is generally weak, the 1509 month contract below the support level near 13000.

ICE

Futures fell sharply on Monday, and the most active July contract fell 1.92 cents, closing at 64.92 cents, the largest single day decline in 11 months. It recovered the three consecutive trading day's rise and dropped to below 65 cents. The US dollar rose and investors lost their profits and dragged down cotton prices. The most fundamental reason is that investors are less confident in the future. The current year's stock is huge, and the improvement in the coming year is not as good as expected, and the recent sales figures are not good enough. The fundamentals are not conducive to a sustained rebound in cotton prices. Cotton prices have dropped sharply and sales pressure has been heavy.

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