Sino US Relations Shackled Cotton Price Warming And Inside And Outside Cotton Price Difference Widened Again

Last week, although the Federal Reserve said it would use all tools to support the economy, the world had great potential for inflation. Meanwhile, China's procurement of US cotton was still in progress. But the repeated outbreak of the US epidemic and Sino US relations became the shackles to limit the continued rise of international cotton prices. Most people are still pessimistic about the difficulty of economic recovery. ICE cotton fell, the overall performance of the regional oscillation pattern. On Monday, the US epidemic was repeated, the vaccine response was unfavourable, the US stock fell sharply, the ICE cotton went down; on Tuesday, stimulated by the sharp rise in international crude oil, ICE rebounded strongly; on the following three days, Sino US trade relations were at a stretch, and ICE cotton continued to decline, and the weekly gains rose. Main contract July settlement price 57.61 cents / pound, lower than the previous Friday 0.64 cents / pound; weekly settlement price rose 0.47 cents / pound to 58.18 cents / pound. Under the leadership of ICE, CotlookA concussion stabilized, the weekly average price was 66.53 cents / pound, up 0.58 cents from the previous week, and the price was 66.15 cents / pound on Friday, 0.15 cents lower than the previous weekend.

On the domestic side, Zheng cotton fell back on the line on Monday. Tuesday and three continued to rebound under the impetus of the strong rise in international crude oil. The Sino US trade relations were tense after the week. Zheng cotton continued to fall. The closing price of the main CF009 was 11580 yuan / ton, which was basically the same as that on Monday, closing 65 yuan / ton compared with the previous one. Unlike the trend of Zhengzhou cotton, when the domestic spot spot rose for five consecutive days and increased considerably in the late week, the survey was informed that the purchase was mainly supported by cotton enterprises.

Contrast found that last week the domestic cotton spot trend is stronger than the international market, and the difference between the price of cotton and foreign goods is expanding. On Friday, China's cotton price index CC Index3128 was 11900 yuan / ton, higher than the Cotlook A index of 1% yuan discount RMB 397 yuan / ton, while the previous weekend this price difference was -14 yuan / ton, compared with 411 yuan / ton.