Market Is Available, Cotton Spot Resources Are Scarce, Prices Are Relatively Strong.

Tuesday,

Futures were down.

Among them, the 1609 main contract of cotton futures was opened at 13035 yuan / ton, and after that, it closed down 12845 yuan / ton, down 255 yuan / ton compared with the previous trading day, or 1.95%.

In terms of quantity, yesterday, Zheng cotton 1609 contract volume reduced to 385 thousand hands, and the position decreased by 29442 to 278 thousand hands.

In foreign markets, the ICE cotton contract in June 13th fell 1.16 cents / pound or 1.78%, at 64.14 cents / pound in July.

On the spot side, yesterday, China's cotton price index closed at 12668 yuan / ton, up 13 yuan / ton; 2227B level closed at 11721 yuan / ton, up 15 yuan / ton; 2129B level closed at 12995 yuan / ton, up 29 yuan / ton.

After Monday's closing, the USDA reported weekly crop growth report. The cotton planting rate in the United States was 75% in the week ended June 5th, compared with 59% in the previous week, 75% in the same period last year, and 84% in five years.

Liu Qiannan, a researcher at the galaxy futures textile department, said that the market can now circulate cotton.

Not much, the price is relatively strong.

The speed of storage cotton wheel is slow, and the progress of fiber inspection is not enough.

The actual circulation of cotton resources to the market is not much.

Judging from the current rules of the stock exchange of several weeks, the resources listed before every Wednesday are about 30 thousand tons, and the volume of resources coming out on Wednesday will be reduced. But on Tuesday, the stock market of reserve cotton is only 22 thousand and 400 tons, and the progress of fiber inspection is worrying.

In addition, the strong price of foreign cotton also supports the rising price of Zheng cotton.

Liu Qiannan pointed out that, on the one hand, from the impact of the reserve cotton wheel on the bottom price, foreign futures futures have a greater impact on the spot price index of Cotlook cotton, while the reserve price of cotton reserves is determined by reference to the Cotlook cotton spot price index. Therefore, in the long run, the impact of the reserve price on the reserve cotton has a great impact. On the other hand, the reference price of the reserve cotton is based on the Cotlook index, so the linkage between the internal and external markets is higher than before, and the price fluctuations in the short-term and internal and external markets are more influential than the General Assembly on Zheng cotton.

However, Xu Yuanyuan, a researcher at Huatai futures, pointed out that, from the angle of price difference between inside and outside, the external market will drive the trend of the internal market. However, due to the domestic policy quota, the quantity of imported cotton has shrunk and the internal and external linkage has weakened.

Looking ahead, Xu Yuanyuan believes that in the long run, Zheng cotton is in the bottom of the shock process; in the short term, the upstream space is suppressed because of the limited acceptance of raw material prices by downstream textile enterprises.

"Because of the relatively tight cotton resources available in the market, reserve cotton has become a major factor affecting the market.

Judging from the recent trend of Zheng cotton, the progress of fiber inspection and the impact of listing resources on Zheng cotton are more significant.

Each time the reserve cotton listing resources suddenly reduce, it will cause market panic and Zheng cotton prices will rise.

If the latter is still the current round of resources, Zheng cotton September contract is expected to maintain a strong trend in the latter stage.

If the late turn of resources increases, the supply of spot market increases, and the amount of cotton resources circulating to the market increases, then Zheng cotton will be weak.

Liu Qiannan said.