Xinjiang: Bullish Sentiment Is Rising, Cotton Prices Continue To Rise

According to a spokesman for the Ministry of Commerce, at the invitation of the United States, Liu He, member of the Political Bureau of the CPC Central Committee and vice premier of the State Council and the leader of the China US comprehensive economic dialogue, will visit Washington on the 13 th of this month, -15, to sign the first stage economic and trade agreement with the US side. This is a reconfirmation and response to the US side's signing of the agreement on the 15 th of this month. The news is encouraging, and the market is booming again.

First, last week, Zheng cotton continued to rise. As of January 10th, the main cotton CF2005 contract closed 14285 yuan / ton, compared with the closing price of 14070 yuan / ton in January 6th rose 215 yuan / ton. Zheng cotton turnover and positions rose double.

Second, according to the feedback from enterprises in Akesu, Korla and Kashi, Xinjiang cotton benchmark bid and price increase continue to rise recently. As of January 13th, the "double 29" hand picked cotton price was 13700-13900 yuan / ton (delivery, weight and tax), and the "double 28" hand picked cotton price quoted at 13500-13600 yuan / ton (ibid), compared to Friday (10), continued to rise 100 yuan / ton.

At present, the purchase of seed cotton is basically completed in Xinjiang. The seed quality of cotton is very low, and the purchase price has risen slightly. As of 10 days, the price of picking 34% cotton clothes in Akesu area was 4.5-4.6 yuan / kg, which rose 0.05 yuan / Jin compared with 6 days.

According to feedback, traders, textile mills and middlemen in the past days have obviously reduced their prices, and most of them have returned to their hometown. Therefore, although Xinjiang cotton has been bullish, there has been little turnover in recent years.

Near the end of the year, the work of shifting cotton in Xinjiang cotton is still in progress. According to feedback, up to now, Shandong, Hubei and Jiangsu and other places, "double 28" hand picked cotton out of the warehouse offer 14200-14350 yuan / ton (gross weight, pick-up, including tax), compared to 10 days this month, the price rose 200 yuan / ton.