Reserve Cotton Auction Is Still Hot Spot Market Pressure.

On Thursday, the price of Zheng cotton was narrow, and the volume of trading was greatly reduced, and its position was reduced. At present, Zheng cotton holds nearly 595 thousand hands.

At present, the warehouse number is 398 (+12), and the effective forecast volume is 1299 (-73).

1605 the contract settlement price is 12160 (0), the 1609 contract settlement price is 12525 (-20), and the 1701 contract settlement price is 12610 (-45).

At present, the warehouse number is 398 (+12), and the effective forecast volume is 1299 (-73).

Today, the third day round of cotton reserves has been sold out. The turnover ratio is still very high. Preliminary statistics show that the turnover of cotton reserves is still around 30 thousand tons today.

Overnight ICE cotton main contract

It fell slightly, 07 contracts 62.78 cents / pound, fell 0.16 (0.25%), and volume decreased.

In May 4th, following the price drop of the day before yesterday, ICE futures continued to fall, forcing the US dollar index to continue to lower cotton prices.

As China's cotton sales are booming and the US harvest is expected to improve, cotton prices are expected to have a certain downward trend.

Pay close attention to tonight's weekly report on US cotton exports.

In May 3rd, the domestic price of S-6 in India increased by 150 rupees, and the price of picking up 35900 rupees / candi reached the highest in the year.

Lu comparison is weak, 4 days price is about 68.80 cents / pound.

To the Far East, CFR price spilled 845 points for the new contract.

J-34 prices in Punjab rose at 3820 rupees / mod (69.80 cents / pound).

according to

According to company statistics, the seed cotton market in May 4th was 43 thousand packs (7 thousand and 300 tons) of lint cotton.

In May 5th, the first round of trading hours of cotton reserves came out, with a preliminary turnover of 14 thousand and 900 tons.

The maximum paction price is 14350 yuan / ton (imported cotton, the price increase range is 3680 yuan / ton).

1-3 May,

The quotations from both inside and outside the country have been fully stabilized, and the impact of the buyers and sellers on the trend of cotton prices and the reserves of cotton wheels to the spot market is quite large, and the stalemate continues. The quotation of 2128C2, 3128C2 grade (fracture strength 28CN-28.5CN) and 2128B2, 3128B2 grade (fracture strength 28.5CN and above) of the southern Xinjiang regulatory warehouse are 12500-12600 yuan / ton, 12700-12800 yuan / ton respectively.

On the spot market, on the 3 and 4 May, Xinjiang cotton quotation was relatively strong, and local cotton enterprises 2128C2 and 2127C2 grade hand picked cotton Xinjiang platform gross weight pick up price were 12500-12600 yuan / ton, 12000-12200 yuan / ton respectively.

In contrast, the price of reserve cotton is relatively favorable, and the supply of 30 thousand tons per day is short of pressure on the spot price and supply.

And Zheng cotton prices are still relatively high, it is expected that in the short term, Zheng cotton will be weak in the trend, and it is suggested that the short term can be built up.