Storage Cotton Store Out Slowly, Turnover Continues.

Goods in stock

And the strong price is the main support of Zheng cotton, and the selling volume of the national reserve is shrinking. Because of the slow progress of the domestic cotton inspection and data consolidation due to the sale of imported cotton, the progress of dumping and storage is difficult to improve in the future. The overall market will be in a tight supply and demand pattern, and the spot market will remain strong and continue to be consumed, and the new cotton resources will be tight.

May cause 1609 contract warehouse receipts resources, and thus constitute a support for the price. At present, the new cotton quotation at 13000 yuan / ton, the next 1609 contracts are expected to close to the spot.

But on the other hand, the increase in the number of reserves in the coming year is ahead of schedule. At the same time, the market has asked the government that additional 80-100 million processing trade quotas may be pressure on domestic cotton prices. Under these circumstances, the 1701 contract will be under increasing pressure of selling and selling, and the price will remain weak.

It is suggested that investors shift their trading focus to the 1701 contract, keep the idea of the 1701 contract empty, and continue to increase the value of the contract and maintain the value of the contract, so that they can hold 1609 of the contracts and sell 1701 contracts.

In May, Zheng pan cotton (12795, -20.00, -0.16%) was narrow and concussion.

The auction is hot, and the average price of the paction is up.

A good deal shows that domestic cotton supply is tight, and the national cotton auction volume only alleviates the urgent needs of the stock market and does not affect the market.

In contrast, the ICE cotton showed a V trend. The price of cotton throwing and storage in China was lower in the early stage. Then the market found that the US cotton exports improved, the market confidence was restarted and the price hit bottom.

The stabilization of the external market also supports the domestic market.

If imported cotton resources are less than 300 thousand tons, the number of imported cotton imported from the auction is less than 30 thousand tons, and the import cotton auction volume will be reduced to 5000 tons, which is expected to last up to the beginning of June.

Moreover, since 18 days, the number of stored cotton wheels has been reduced from 30 thousand tons to 25 thousand tons. The main reason is that the follow-up inspection tasks are heavier and the inspection speed of warehouses is difficult to keep up. This will also delay the date of delivery to a certain extent, which will only aggravate the auction enthusiasm of cotton reserves, coupled with the surge of traders. It is expected that the auction enthusiasm in the short run will be hard to fall.

There are several reasons for the hot turnover of State Cotton stores: first, the quality and price of national cotton reserves are recognized.

The quality of cotton captured is basically the same as that of the public inspection, while the national cotton price has an advantage over spot.

Although there were some problems such as the difficulty in handling procedures and the delay in taking delivery at the beginning, the overall auction was still successful. Most of the textile companies that participated in the auction had put the cotton stored in the auction into operation.

Two, the inventory level of textile enterprises is really low, so we have to solve the problem of replenishment.

From the data, we can see that both the cotton industry inventory and cotton business inventories are at a low level in the year, and far below last year's level.

Demand for downstream replenishment is high.

Three, the participation of traders exacerbated the tension of the market.