Ice Early Three Consecutive Domestic Spot Cotton Down

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According to the data monitoring of the business agency, on July 15, the average spot price of domestic lint was 12159 yuan / ton, down 46 yuan / ton or 0.37% from the price of the previous trading day. Ice cotton fell. As of July 15, the December contract was at 62.13 cents per pound, down 2.01 cents from July 8. Cotton prices continued to rise nearly 20 days were ended, lint spot is down.

From the lint current chart, we can see that in July, the current gap is gradually narrowing, and the rising trend is also gradually shrinking. On the one hand, the market is concerned about the trend of Sino US trade relations, and the conservative mentality has been improved. On the other hand, the weather has improved. Ice fell three times to correct the previous rise, domestic spot rose for the first time in nearly 20 days, and the average transaction price of reserve cotton also decreased.

Business agency analysts believe that the improvement of the weather and the market's concerns about Sino US trade relations have made ice cotton fall for three consecutive times. At present, domestic Zheng cotton's rising resistance is at 12300 yuan / ton. With the fall of international cotton price, Zheng cotton's return to 12000 yuan / ton fluctuated and adjusted. Judging from the recent import data of China, it generally exceeds the market forecast, the domestic economic recovery is better than expected, and the market confidence is boosted. It is expected that the cotton market will present an upward tone in the medium and long term.