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Market Analysis: Cotton Price Sharply Callback, Bidding Heat Does Not Decrease
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From August 16 to 20, Zheng Mian, after reaching the high point of 18505 yuan / T, continuously retreated and fell below the Wanba support level. Recently, the relevant departments of the state have repeatedly mentioned the supply and stability of the market, the overall correction of bulk commodities, and the difficulty of supporting cotton. In addition, the recent interest rate meeting of the Federal Reserve has frequently released hawkish signals, and for the first time since the outbreak of the epidemic, it has explicitly discussed taper, suggesting that there will be action within the year. This has exerted great pressure on the commodity market and intensified the market risk. ?
Although the futures price has a large correction, but the spot market is relatively stable, reserve cotton auction enthusiasm is still very high. At present, the downstream textile enterprise order situation is stable, the profit is relatively high, and the cotton demand is still in. Fabric customers are more resistant to the rise of yarn price, and the transmission of yarn price is hindered. Some cloth factories have shut down and reduced production. The overall support for cotton price rise in the later stage of cotton spinning has been weakened.
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Data will be released from August 16 to 20
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China national reserve cotton Management Co., Ltd. has listed 46700 tons of cotton, including 30100 tons of Xinjiang cotton and 16600 tons of local cotton.
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From August 16 to 20, the average transaction price of reserve cotton was 17879 yuan / ton, 416 yuan / ton higher than last week; The price of standard grade (3128) was 19117 yuan / ton, up 413 yuan / ton; The average price increase was 2336 yuan / ton, up 146 yuan / ton; The highest transaction price is 19700 yuan / ton, and the lowest price is 17140 yuan / ton. Among them, the average transaction price of Xinjiang cotton was 17994 yuan / ton, with an average increase of 2524 yuan / ton; The average transaction price of real estate cotton was 17672 yuan / ton, with an average increase of 1995 yuan / ton.
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Cumulative: data from July 5 to August 20
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China national reserve cotton Management Co., Ltd. has listed 331800 tons of cotton, including 225200 tons of Xinjiang cotton and 106600 tons of local cotton.
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From July 5 to August 20, the average transaction price of reserve cotton was 17091 yuan / ton, which was converted into 18306 yuan / ton of standard grade (3128) price. The highest transaction price was 19700 yuan / ton, and the lowest price was 15950 yuan / ton; Among them, the average transaction price of Xinjiang cotton was 17190 yuan / ton, with an average increase of 2278 yuan / ton; The average transaction price of real estate cotton was 16816 yuan / ton, with an average increase of 1828 yuan / ton.
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