Xinjiang Cotton Prices Are Down And Prices Are Active.

According to the cotton trade enterprises in Henan, Shandong, Jiangsu and other places, as the price of the CF2001 contract fell below 12500 yuan / ton's important support position, the sales of Xinjiang cotton spot price continued to rise in 2019/20, mainly from the cotton mill and the mainland intermediaries before the Spring Festival. The ginning factory is in a semi stagnant state because it is reluctant to sell.

A cotton trader in Qingdao, Shandong, said that the expansion of futures losses was "profitable sales and bad procurement" for traders. Zheng cotton contract broke 12500 yuan / ton in recent months, traders regardless of point price sales or storage net profit is higher than the previous growth. In addition, because of the "base" purchase quotation, the cotton processing enterprises are unable to accept the purchase contract with the CF2001 contract. Therefore, the cotton processing enterprises' enthusiasm to participate in storage is rising under the condition of inadequate consigning conditions and low spot selling prices.

Judging from the survey, traders' "double 28" hand picked cotton quotations generally declined to 12600-12800 yuan / ton (public weight, basic offer), and the "double 29" hand picking cotton price quoted 13100-13300 yuan / ton (public weight, base quote), which was adjusted 300-400 yuan / ton lower than in late November. Northern Xinjiang "double 29" machine cotton picking quotas also fell to 12700-12900 yuan / ton.