How Big Is The Impact Of The Heat Storage Of The National Cotton Store?

On the 16-20 day of May, the third week of the cotton reserve came out, and the heat was not reduced. On the basis of a reduction of 92 yuan / ton, the import price of imported cotton increased by 123 yuan / ton, and domestic cotton rose 71 yuan / ton, and the total turnover reached 400 thousand tons. Due to the progress restriction of the public inspection, the quantity of delivery has not increased, and the supply and demand have been temporarily tense. The spot, reserve cotton and futures have been supporting each other in three directions to maintain the rally. The base price for this week is 11884 yuan / ton, up 45 yuan / ton last week. Last Friday (May 20th), the national cotton price B index was 12409 yuan / ton, the week rose 10 yuan / ton, and the Zheng cotton futures CF1609 contract ratio, from the premium 99 yuan / ton change 336 yuan / ton, it is worth our attention.

Futures. In the wake of the strong fire and strong spot prices, Zheng cotton's confidence rose again, and cotton contract rose last week. The main contract 1609 closed on Friday at 12745 yuan / ton, and the week gained 445 yuan / ton. The turnover reached 2613244 hands, reducing 459872 hands, reducing 15%, holding 289098 positions, increasing 30402 hands, increasing 11.8%. CF1701 contract closed at 12550 yuan / ton on Friday, week up 220 yuan / ton, reached an average of 19 tons, reduced the number of dealers, reduced the number of shares, reduced the number of shares, reduced the number of operators, reduced the volume, and failed to enlarge the volume, and the increase was not sustainable. As of May 20th closing, the top 20 seats, more than 145755, 6236 less than last week, 187171 hands empty, 5691 more than last week, 41416 hands empty, 11927 more than the previous week, a significant increase, some of which are covered by a single guarantee, the transaction is not active. Spot resources were reduced, sales were smooth, and the heat of warehouse receipts registration weakened. As of May 20th, 965 registered warehouse receipts were added, 13 weekly increased, 746 effective forecasts, and 5 additional weeks. Us disk: Tuesday (May 17th) overshoot rebound failed to continue, Thursday (May 19th) callback, the main July contract Friday (May 20th) closed at 61.73 cents / pound, week rose 90 points. In the near future, technical 60 day moving average may have some support, and later look at the situation of China's round out transaction.

On the spot. Continued hot rounds of transactions. Spot market The effective support of price formation, plus the large volume of spot resources such as regiment, and so on, made hedging in the early days when the futures were high. The selling pressure was reduced, the ability to raise prices was strengthened, and the spot selling price was relatively stable. The mainland's double 29B hand picked cotton is basically out of stock, "double 28B" price is 13200-13400 yuan / ton, "double 28 C" price is 12200-12500 yuan / ton, the price of the regiment is 200-300 yuan / ton. The quality of the real estate cotton is different, the price is different from 10500-12500 yuan / ton, the price of imported cotton is higher than that of the imported cotton, and the price of the imported cotton is 13200-13500 yuan / ton, the cotton price is 14200-14800 yuan / ton, and the quota transfer price is maintained at 1200-1500 yuan / ton. Reserve cotton The normal transaction price is increased by 150-200 yuan / ton for market sales. The long staple cotton is relatively stable, and the 137 class inland delivery price is 21000-21500 yuan / ton, with a turnover of less than 21000 yuan / ton.

In terms of rotation. Third weeks after the launch, the selling price was 11839 yuan / ton, 138581 tons, 138581 tons less than second weeks, of which 83903 tons of domestic cotton, 29509 tons per week, the average price of 11867 yuan / ton, up 71 yuan / ton, import cotton traded 54680 tons, reduced 40676 tons, the average price was 54680 yuan / ton, and rose by yuan yuan / ton. In the case of close to 100% turnover rate, restricted by the progress of public inspection, the amount of delivery can not be increased, but on the contrary, it will be reduced. Quantity delivered 11839 tons, resulting in more intense competition, especially imported cotton on the one hand, significantly reduced the volume of reduction, the reduction of 43%, on the other hand, has accumulated 240 thousand tons, the total market is expected to be within 300 thousand tons, the remaining resources are not much, more fierce competition, based on the base price reduction of 92 yuan / ton, up 123 yuan / ton, the average increase in the price of 2000 yuan / ton, is expected to import cotton competition will be fierce.

Domestic cotton resources are abundant. Due to slow progress of the public inspection, some warehouses are not well matched, and the volume is not available. The total turnover is only 160 thousand tons. In the later stage, with the acceleration of the public inspection progress, the quantity will gradually increase, and the price increase may fall. By May 20th, 539 enterprises had successfully participated in the auction, with an average turnover of 756 tons, with a total turnover of 400 thousand tons, equivalent to about 20 days in the country. However, because of the large proportion of imported cotton, which accounted for 60%, and the bundles were larger, most traders were filming. The average volume of traders was much larger than that of textile enterprises. Most of the imported cotton was concentrated in a few hands of traders. In the turnover of cotton, there were about 1/3 of cotton with less than 100 thousand tons or less, and some textile enterprises still did not participate in the auction. With the decrease in inventory and the increase in the volume of imports, the textile enterprises in the subsequent entry will gradually increase in the market. The situation of textiles, clothing exports and domestic sales is serious. There is no obvious improvement in demand for cotton yarn in the future. Cotton demand and price rise are short of support, and there is a big risk in hoarding cotton. Cotton distribution. The output of cotton gradually came to the factory, and the quality and the public inspection data had a relatively high rate of consistency. However, due to the longer storage time, some color changes were larger, and there was a big difference within the batches. Xinjiang cotton was relatively good, and the difference between real cotton and American cotton bags was great. As far as possible, sorting and batting were made as far as possible during storage.