The Price Of India And Pakistan Is Higher Than That Of Domestic And Domestic Cotton Yarn And Chemical Fiber Prices.

This week, domestic cotton spot prices continued to be weak, and after the sharp fall of Zheng cotton prices, the oscillation rose.

In December 30th, the average selling price of the standard grade lint in the mainland was 15739 yuan / ton, down 49 yuan / ton compared with last week, or 0.31%, up 2891 yuan / ton, or 22.5%.

The national cotton trading market electronic matching pactions in January the average contract price of 14181 yuan / ton, compared with last week fell 219 yuan / ton, or 1.52%, up 2524 yuan / ton, or 21.7%.

Zhengzhou cotton futures CF1701 contract settlement price of 14850 yuan / ton, compared with last week fell 305 yuan / ton, or 2.01%, up 2880 yuan / ton, or 24.1%.

This week, international cotton prices rebounded slightly.

In December 30th, New York cotton futures contract settlement price in March was 70.65 cents / pound, up 0.78 cents / pound compared with last week, or 1.12%.

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The international average price of China's main port on the international cotton index (M) is calculated on the basis of 1% tariffs. The cost of importing RMB is 14187 yuan / ton, up 16 yuan / ton, or 0.11%, lower than the domestic market 1552 yuan / ton, and the price difference narrowed 65 yuan / ton last week.

Domestic cotton prices will continue to be weak in the short run.

Macroscopically, in the 1-11 month, the total profit of Industrial Enterprises above Designated Size reached 6 trillion and 33 billion 410 million yuan, an increase of 9.4% over the same period last year, and the growth rate was 0.8 percentage points higher than that in 1-10 months. In December, the purchasing managers index (PMI) of China's manufacturing industry was 51.4%, which was 0.3 percentage points lower than that of last month, and remained at the expansion interval, the highest point in the year.

In terms of fundamentals, as of December 30th, 4 million 315 thousand tons of lint were processed and 2 million 185 thousand tons of lint were sold, of which 1 million 802 thousand tons of lint were sold in Xinjiang.

This week, cotton spot sales were slow, the Xinjiang library quotas reduced by 100-200 yuan / ton, the pportation situation in Xinjiang improved, the mainland spot trading price fell by 200-300 yuan / ton, and the price of Xinjiang cotton in the mainland was only 300-400 yuan / ton higher than that of real estate cotton.

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Spinning out is approaching, and the strength of textile enterprises' replenishment is gradually weakened.

In terms of technology, Zhengzhou cotton main contract (CF1705) is suppressed by the 20 day moving average this week. It is expected that short-term or continuation of weak oscillation will continue.

In summary, short term domestic cotton prices are expected to continue to be weak.

International cotton prices continue to shake down weakness.

On the macro side, the number of Americans applying for unemployment benefits dropped to 265 thousand this week, and the health level remained below 300 thousand people for 95 weeks. This is the longest period since 1970. It shows that the US employment market has remained stable. Japan's CPI in November was 100.4, a year-on-year increase of 0.5%, higher than the previous value, but the core CPI in that month was less than expected.

Fundamentals, 16-22 December 2016, 2016/17

The net export volume of exports was 77 thousand and 800 tons, an increase of 24% over the previous week, an increase of 15% over the previous four weeks, and 60 thousand and 700 tons of land cotton in 2016/17, a new annual high, an increase of 28% over the previous week, an increase of 36% over the previous four weeks average.

This week, the average price of M spot in the seven largest markets in the United States was 72.49 cents / pound, up 0.23 cents / pound from the previous week.

This week, domestic cotton prices rose in India, and domestic cotton prices in Pakistan remained strong.

In December 31st, the price of S-6 cotton in India was 74.45 cents / pound (calculated at 1% tariffs, 12902 yuan / ton), which rose 1.53 cents / pound, or 2.08%, compared with last week. In December 30th, the domestic cotton price in Pakistan was 73.26 cents / pound (calculated at 1% customs tariff, 12702 yuan / ton), compared with last week, it fell by 0.06 cents / pound, or 0.08%.

In terms of technology, this week's ICE cotton futures contract (March contract) rebounded after the fall, breaking down after the 20 day moving average.

In conclusion, international cotton prices are expected to continue weak shocks in the short term.

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