Cotton Spot Trading Downturn Prices Basically Maintained

Overnight ICE cotton contract rose sharply, and the settlement price of the 1605 contract was 58.29 cents / pound, up 1.14, or 1.99%, and volume increased.

March 14th, southeastern United States

Heavy rain triggered floods caused large purchases of commercial and non commercial markets, and the recent warming of US cotton exports also provided support for the ICE cotton boom.

This week, we continued to pay close attention to the issuance of China's policies, weather conditions in the US cotton region and the signing of the US cotton export.

Monday India

The price of the S-6 ginning factory was 32600 rupees / candi, which rose 100 rupee / candi on Friday and 62.20 cents / pound; J-34 punning factory in Punjab

3530 rupees / mod, 64.20 cents / pound.

In March 11th, India's new flower went on sale 124 thousand packs (21 thousand tons), up to 23 million 868 thousand and 800 bags (4 million 61 thousand and 300 tons) of new flower listing on that day.

According to customs statistics, China imported 56 thousand tons of cotton in February 2016, a decrease of 40 thousand tons compared with January, a decrease of 41%. In the same period last year (February 2015), the import volume of 159 thousand tons was reduced by 103 thousand tons, with a reduction of 65%.

In 2015/16 (September 2015 -2016 February), China imported 518 thousand tons of cotton, a decrease of 363 thousand tons compared with the same period last year, a decrease of 41%, and a total import of 152 thousand tons in 2016, a decrease of 53% tons compared with the same period last year.

According to the survey, since mid March, the gross weight of hand picked cotton in Anhui, Jiangsu, Henan and other places 2128C2 (fracture strength 28CN or so) has reached the factory price of 12000 yuan / ton, and the hand picking cotton price of grade 2128C2 (fracture strength 28.5CN or so) has been quoted at 12100-12300 yuan / ton, but the enthusiasm and turnover of the inquiry are lower.

A medium-sized cotton mill in Hebei has said that it will definitely participate in the auction. The key lies in the length of the national reserve cotton resources, the horse value, the breaking strength ratio, the "three yarn" and the short staple rate. If there is no suitable source for spinning cotton yarn above 40S, even if the reserve cotton price is reduced to 10000 yuan / ton, the spinning enterprises will not rush to buy "cheap".

May contract fell 0.37%, September contract fell 0.74%, January contract fell 0.35%.

1605 the contract settlement price is 10730 (-10), the 1609 contract settlement price is 10150 (-25), and the 1701 contract settlement price is 10000 (-10).

At present, the warehouse number is 614 (-47), and the effective forecast volume is 358 (0).

The details of the reserve cotton wheel have not yet been released. This week, we continue to pay attention to the detailed rules of the cotton reserves.

The downstream textile mills are waiting for the specific news of the reserve cotton wheel. The wait-and-see mood is strong.

Anhui, Jiangsu, Henan and other places 2128C2 (fracture strength 28CN or so) grade of Xinjiang hand picking cotton gross weight to the factory price of 12000 yuan / ton, 2128C2 class (fracture strength of about 28.5CN) hand picked cotton price quoted 12100-12300 yuan / ton, but the enthusiasm and volume of inquiry is lower, before the national cotton store policy, the seller and the buyer will not be active.

At present, there are still many cotton resources in the market. Professional agencies statistics show that the total volume of cotton business in the whole country is 2 million 86 thousand tons in late February.

It is expected that the price trend of Zheng cotton will be on the empty side.