Summary Of International Cotton Market: India Cotton Wants To Regain Confidence

Recently, pport problems have not been effectively alleviated. Railway freight cars are very few, and freight rates are still high. Xinjiang cotton plus the cost of pportation to the mainland is lower than the imported cotton and the national cotton stored before. Therefore, the textile enterprises actively purchase imported cotton and national cotton stores, which are low in terms of high price Xinjiang cotton, but the amount of imported cotton and national cotton stored in the market is gradually decreasing, and the procurement difficulty is increasing.

ICE cotton is mixed.

1612 contract settlement price 73.72 cents / pound, up 12 points; main 1703 contract settlement price 72.24 cents / pound, down 5 points; 1705 contract settlement price 72.89 cents / pound, down 6 points.

The main contract slightly opened, early morning and intraday continued weak state, the lowest in the intraday fell to 71.33 cents (91 points), the end of the paction, buying support rebounded, and finally ended in a slight drop.

As of the 20 th, the United States cotton harvest 67%, 1 percentage points lower than the same period last year, an average of 10 percentage points lower than the recent 5 years, of which the largest production area Dezhou completed 47%, compared with the same period last year, nearly 5 years average respectively 12, 21 percentage points.

Overnight cotton contracts for the ICE period fell, while the December contract closed 72.8 cents / pound, down 0.9 (1.22%), while the March contract closed 72.24 cents / pound, down 0.1 (0.14%), and reduced turnover.

In November 22nd, trading before Thanksgiving continued to fade, and ICE futures continued to move ahead of the December contract delivery.

This Wednesday is the first notice day of December contract, and Thursday is Thanksgiving holiday. The price is expected to maintain a trend of callback.

Affected by holidays, this week's US cotton export weekly was postponed.

On the 22 day, the delivery price of the local S-6 ginning plant in India dropped to 39500 rupees / candi (73.85 cents / pound), a decrease of 600 rupee / candi compared with 21 days, and Punjab J-34 to 4125 rupees / Moore (73.50 cents / pound).

At present, there are 17 thousand tons of cotton lint on sale locally, including 3 thousand and 400 tons in Gujarat and 6 thousand and 800 tons in Maharashtra.

Pakistan's domestic market has been stable for several consecutive days. The new flower quotes are currently maintained at reasonable intervals between the buyers and sellers. The price of the ginning factory is 6200-6350 rupees / Moore (72.00-74.00 cents / pound), but as the price has reached a high level, the textile enterprises strongly say that they will no longer accept the price increase of the cotton mill.

Most cotton ginning factories have strong willingness to sell to ensure smooth pactions.

At the same time, Pakistan textile enterprises also continue to pay attention to India cotton price reduction and other market signals.

At present, the new flowers in Turkmenistan are in a low salable state. As of the beginning of November, Turkmenistan cotton accumulated 66 thousand tons of export, while the export volume rose to 72 thousand tons (including 6000 tons long staple cotton) after two weeks.

The main reason for unsalable selling is that the price of new flowers is too high.

It is also understood that the Ministry of agriculture of Turkmenistan will hold the national cotton and textile exhibition in early December in Ashkhabad, when the new flower trade will increase.

Many enterprises are now considering setting up positions in the 1705 contract, when pportation will no longer be a problem, and freight rates will also drop sharply.

Recently, textile enterprises actively replenishment and Xinjiang cotton out of Xinjiang are difficult to support cotton price rise. It is expected that in the short term, Zheng cotton will have strong volatility.

Concerned about Xinjiang cotton Xinjiang situation, focusing on effective warehouse receipts into warehouse receipts.