Sino US Talks Restart Cotton Market Volume And Price Rise

Last week (September 2019 2-6) was the eighteenth week of the central reserve cotton mill in 2019. China Cotton Reserve Management Co., Ltd. sold 58 thousand and 800 tons of central reserve cotton, including 28 thousand and 400 tons of Xinjiang cotton and 30 thousand and 400 tons of real estate cotton.

In the week, the average price of the central reserve cotton was 11723 yuan / ton, up 138 yuan / ton compared with the previous week, and the price of the standard grade (3128B) was 12991 yuan / ton, up 64 yuan / ton compared with the previous week. The average price of Xinjiang cotton was 11890 yuan / ton, 289 yuan / ton higher than the previous week, and the price of 3128B was 13300 yuan / ton, up 341 yuan / ton compared with the previous week. The average increase was 965 yuan / ton, up 693 yuan / ton compared with the previous week. The average price of real estate cotton was 11546 yuan / ton, up 26 yuan / ton compared with the previous week, and the price of 3128B was 12665 yuan / ton. In the week, the highest price of the central reserve cotton was 12710 yuan / ton, and the lowest transaction price was 10840 yuan / ton.

Last week, Zheng cotton futures continued to rise, although spot circulation has accelerated, but still behaves cautiously. Cotton trading has improved, and the pace of new cotton listing is still slow. On the morning of September 5th, the leaders of the Sino US high - level economic and trade consultations were in the lead, and it was clear that the thirteenth round of consultations would be held in Washington at the beginning of October, and the negotiations were put on the agenda again. Stimulated by this news, Zheng cotton main CF2001 contract has surged to 13160 yuan / ton, and the weekly cumulative rise has been about 500 yuan / ton. The market turnover was mainly based on cotton reserves, and the volume and price of them increased. After entering the new year, new cotton was picked one after another. Because the price is lower than expected, cotton growers are generally reluctant to sell. It is expected that the market will be postponed until the national day.