Last Week, The Cotton Reserves Rose For The Fourth Consecutive Week And The Daily Volume Decreased.

Last week (12-17 June)

Seventh weeks after the launch, the selling base price was 12364 yuan / ton, 165 yuan / ton higher than the previous week, and the fourth week of the week increased, the daily turnover decreased, the turnover rate maintained 95% highs, no import cotton was put in, and the weekly turnover was 131539 tons. Due to the lack of resources and fierce competition, the average price was 12075 yuan / ton, and the weekly price rose 130 yuan / ton.

Xinjiang warehouse has set out the highest price of domestic cotton in the current round of 14000 yuan / ton and the highest paction price is 13100 yuan / ton.

As of June 17th, a total of 847 thousand and 700 tons, of which 296 thousand and 100 tons of imported cotton were imported, and 551 thousand and 600 tons of domestic cotton were sold.

There is a small stock of stock, and the volume of delivery continues to drop, supply and demand are tight, and futures are reappearing.

The base price for this week is 12325 yuan / ton, 39 yuan lower than last week.

Last Friday (June 17th), the state

Price B index 12576 yuan / ton, weekly rise of 94 yuan / ton, compared with Zheng cotton futures CF1609 contract, the premium is 904 yuan / ton, the week expands 516 yuan / ton, is advantageous to the warehouse receipt registration and the spot guarantee.

Futures.

The drop in output was limited, and the stock in stock was limited. As a result of the main channel's turn out, the volume dropped sharply and then intensified.

Supply tensions, coupled with technical support for the 40 day moving average.

After many days of consolidation, the market is expected to callback, and has accumulated part of the insurance cover. Last Thursday, many investors tested the upside and got the approval of the US market. After the closing day of Thursday's closing, the Xinjiang library created a unit price of 14000 yuan / ton and an average price of 13100 yuan / ton, reflecting the tension of cotton supply in Xinjiang as the main producing area, and the confidence in the bull market was greatly encouraged. On Friday, after the two straight line pull up, all contracts were pulled to the limit and reached a new high in more than a year.

The main contract CF1609 closed at 13480 yuan / ton, the week rose 580 yuan / ton, traded 2782650 hands, the average daily turnover is relatively stable, 359642 positions in the position, increase 71184 hands, increase 24.7%, CF1701 last Friday closed at 13375 yuan / ton, week up 645 yuan / ton, turnover 984570 hands, average daily increase 85085 hand, increase 76.1%, hold positions, increase the number of hands, increase the number, increase the number of high position in the early high position encounter new air, the two sides compete fiercely, all obviously increase the position.

As of June 17th closing, the top 20 seats, more than 206946 hands, an increase of 53135 hands over the previous week, empty single 261080 hands, 49349 more than the previous week, 54134 hands empty, 6459 fewer than the previous week.

Set up to maintain the warehouse, still did not buy a set of insurance, indicating that the cotton mill is generally not optimistic about the future market, selling 30105 guarantees, Zhou Zengjia 3747 hands, on the one hand, the futures are fast high, there is a callback opportunity, two is spot water jacket insurance is more secure.

As of June 17th, 876 registered warehouse receipts, 4 additional weeks, 844 effective forecasts, 6 weekly reductions, and no significant increase in registered warehouse receipts under futures premium, indicating that there are few registered resources available on spot.

The number of inputs per day is still falling. I do not know what the reason is. This is the market's concern and the main reason for the surge of futures.

The number of inputs directly affects the price of futures and spot markets. Relevant departments should give clear expectations to prevent market fluctuations and affect normal operation and healthy development of the industry.

Us disk: in the wake of the India and Chinese market, the US market ended strong adjustment on Thursday, and the new round rose. The main contract in December closed at 65.88 cents / pound Friday, up 81 points in the week, the 66.64 highest round in the intraday.

In the late period, the pressure of further upward pressure is obvious, and there is a demand for callbacks. The number of Chinese rounds is huge and there is uncertainty.

On the spot.

As a result of the continuous decrease in the volume of delivery, the turnover rate remained high. The average price of the paction was relatively stable. The average price of the 14000 yuan / ton of the Xinjiang warehouse and the average paction price of 13100 yuan / ton reflected the tension of the market supply from one side, and the lack of market understanding by the government and industry related departments.

The spot price rose by 100-200 yuan / ton, and the "double 29B" in the inland library was 13600-13900 yuan / ton, "double 28B" 13300-13500 yuan / ton, "double 28C" 12600-13000 yuan / ton; the quality of the real cotton was 10500-12500 yuan / ton; the imported cotton spot was less, the price remained high, the US cotton 13500-14000, the Australian cotton 14500-14800, the imported cotton had already been concluded, and the later market selling price would be more influenced by the spot price of the customs, and the hedging products would follow the futures price fluctuation more.

If the quantity of domestic cotton is increased, the price will drop more, and the price of imported cotton will be lower. It is worth noting that the cotton enterprises should choose the hedging in order to prevent and control risks.

Long staple cotton is relatively stable. 137, the mainland's delivery price is 21000-21500 yuan / ton.

In terms of rotation.

The seventh week sale price was 12364 yuan / ton, and the sale dropped sharply. Due to the Dragon Boat Festival holiday, 6 trading days only closed 131539 tons, the average price was 12075 yuan / ton, up 130 yuan / ton, and the total turnover was 847 thousand and 700 tons.

At present, the amount of delivery is the focus of the market, and there are a few problems in the import of a few cotton banks.

As of June 17th, a total of 701 enterprises have successfully participated in the auction, and the number of enterprises increased by 28 weeks. The average number of enterprises involved in the auction was 1209 tons, but mainly concentrated in several large enterprises. The top 10 enterprises made a total turnover of 205 thousand and 800 tons, accounting for 24.3% of the total turnover, and only 2 textile enterprises in the first 10. This reflected a considerable proportion of resources concentrated in the hands of traders, and there was a great pressure on late sales. If the quantity increased, the average price would fall, and there was still a great price risk.

Cotton distribution.

The market spot resources have been very scarce. The national cotton storage has become the main body of the cotton mill in most of the cotton mills. The enterprises that still do not use the national cotton store should prepare ahead of schedule, or prepare new cotton resources, or gradually match the national storage cotton.

Operation suggestion.

Concerned about the volume of delivery, technical attention to the support effect of the 40 day average, there is a short-term pullback probability.