Domestic Import Cotton Inventory In A State Of Burst

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According to customs statistics, China's cotton import volume in June 2021 was 170000 tons, which was the same as that of the previous month; Compared with the same period last year, it increased by 80000 tons or 89%.

In 2021, China will import 1.54 million tons of cotton, an increase of 73% over the same period last year.

Since the second half of last year, China's import cotton quantity has increased sharply, and affected by the tight quota and large fluctuation of exchange rate, the domestic import cotton inventory is in a state of burst.

Yesterday, the country again named the bulk commodities, the domestic commodity market fell generally, in addition, the rumor of issuing quotas made Zheng cotton futures price weak.

After the fall of Zhengzhou cotton futures price, the transaction intention of textile enterprises is improved compared with the previous period, and the transaction of downstream pure cotton yarn market is slightly improved compared with the previous period. At present, the textile enterprises still maintain low inventory, and the fundamentals are stable at this stage. In the short term, affected by the external environment, the price may fall, but in the medium and long term, Zheng cotton may maintain a stable and strong trend.

Yesterday, zhengmian's main 09 contract opened high and closed at a low negative line at 16705 yuan / ton. Compared with the previous trading day, the futures price decreased by 135 yuan / ton, or 0.8%, and the position decreased by 17000 hands to 439000 hands. Funds were transferred to the 01 contract one after another.