Spot Basic Weakness, Zheng Cotton Futures Weak Fall

Zheng cotton futures this week narrow adjustment, failed to continue the rally last week, the high and low prices, the downward trend of prices, the downward trend of prices, and the poor market fundamentals, which is not conducive to the rise in cotton prices. This week, the market fundamentals are mainly manifested in the following aspects: first, the macro level is not good enough; the downward pressure on China's economy is still large, the stock market has fallen, the commodity prices have been falling down, and the cotton prices have also been dragged down to a certain extent. Two, the spot price is weak, and the turnover is light. In July, 31 cotton prices in China on Friday, 13138 3128B, the cotton price index of China, fell 20 points compared with last Friday, and spot prices continued to fall slightly.

The weakness of the downstream market has restrained the demand of the textile enterprises for cotton. On the whole, the purchasing of textile enterprises has been insisting on the purchase and purchase according to the needs. There is no new news stimulus in the market, and the weak structure of the fundamentals has no support for cotton prices.

In 2015, the sale of cotton reserves came out for 256 thousand and 900 weeks and the actual sales volume was 3 thousand and 900 tons, compared with last week's sales of 3 thousand and 900 tons, a decrease of 7 thousand and 900 tons compared with last week, and the turnover rate of 1.52% tons, a decrease of 3.06% tons. The turnover of domestic cotton 3 thousand and 300 tons decreased by 6 thousand and 900 tons, the turnover of imported cotton was 600 tons, and the turnover of imported cotton decreased by 600 tons. The turnover continued to decline, indicating that the market demand was flagging. Some textile enterprises still prefer to purchase cotton spot in the market. First, they worry about the quality of reserve cotton. cotton The textile market is now in the low season. Textile enterprises Not yet received a large number of autumn orders, enterprises rely on old customers and loose maintenance. yarn The speed of the goods dropped, the price was weak, the market confidence was sluggish, the overall start-up rate decreased, the inventory of textile enterprises increased, and the product sales were in arrears, and the funds were tight. The price of domestic yarn and imported yarn continued to shrink and the market was in the off-season, which also affected the sales of imported yarn. Traders' inventory consumption was slow and sales pressure increased.

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