What Is The Main Reason For The "High Platform Diving" In The Current Round Of Zheng Cotton Disk?

Zheng cotton and matching spot trading once again opened a wide range of oscillation, a sharp decline mode, the CF1705 contract fell from 16235 yuan / ton to 14820 yuan / ton, or 8.72%, and it took only five trading days to make such a sharp adjustment. It not only made domestic cotton processing enterprises and Cotton Traders less ready to use, but also used cotton enterprises and investment institutions to shout and do not understand; moreover, with the main cotton contract of Zheng cotton below 15000 yuan / ton, futures suddenly changed from "500-800 yuan / ton" to "upside down" 300-400 yuan / ton, and cotton enterprises began to consider and try to connect CF1701 and CF1705 from futures.

Some organizations believe that the cotton market before the Spring Festival is mainly based on "stable middle and lower exploration". The cotton enterprises that failed to clear up and bag for safety before mid December did not have much hope of releasing them in March 2017.

So the current round.

What are the main reasons for the "high platform diving"?

First, the external commodity market "dives", and many others trample on each other.

US stocks continued to rise, and the US dollar index exceeded 103 (some investment institutions predicted that the US dollar index would rise to 120) and finally revealed the "devil" side, starting with the lead of the colored goods such as rebar, crude oil and coke.

20 days afternoon, domestic commodity futures declined, including the lead contract of Shanghai lead dropped 5.95%, the Shanghai zinc main contract fell 5.38%, and Zheng cotton futures contract fell 4.2%.

The main contract fell 3.69%, PP main contract fell 4.74%.

As a strong financial attribute and strong metal attribute, cotton can not be "independent" in the tide of commodity market.

Two, speculative capital withdrawal, triggering

It's a chicken feather.

In December 19th, the media financial times, under the central flag, reported that external financial management was ripe for the implementation of broad credit. The central bank leaders also said that the central bank would formally incorporate out of balance sheet financing into the broad credit range in the first quarter of 2017, which is a significant reform of the Chinese banking industry.

Some agencies believe that the money shortage at the end of this year will continue next year, including real estate companies (housing market, stock market, bond market, trust) and so on.

Coupled with the Fed's interest rate increase, the impact of anti-dumping and trade barriers on China's export trade has been more and more frequent. Funds have begun to ebb and flow from the commodity market.

Three, Zheng cotton solid disk pressure is too large, the end of the long end ended in failure.

According to the data, as of December 19th, 1105 sheets of zhengmian warehouse receipt were available, 2145 valid forecasts were made, two total 3250 (about 138 thousand tons), and CF1701 contracts were held more than 40 thousand hands, firm / multi position holdings were more than 1; on the one hand, the purchase, processing and inspection of real estate cotton had been increased in recent years, and the willingness to produce warehouse receipts was relatively strong. As of December 19th, the 84 thousand and 500 tons of real estate cotton inspection and the enthusiasm of the ginning plants for inspection were higher than that of 10 and November. On the other hand, Xinjiang cotton road pportation was significantly improved, and with the short ending of cotton, fruit and energy within the territory, the growth of Xinjiang's vehicles or growth would effectively meet the needs of cotton enterprises to generate warehouse receipts or textile mills. According to Zheng Shang

According to statistics, on the 10-16 th of December, Xinjiang cotton road came out of 83 thousand and 900 tons, an increase of 52.27% (28 thousand and 800 tons) compared with the same period last year. Highway pportation showed a rapid growth momentum. With the completion of upgrading and upgrading of Korla west station in January, Xinjiang railway pportation will also be fully developed.

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