The Import Volume Drops, And The Cotton Period Is Now In An Inverted Pattern

Zheng Mian's negative decline trend was improved at the weekend, and the low futures price stabilized, but it was still suppressed by the moving average system, showing a weak shock. Whether the support is effective remains to be further observed. At present, the cumulative processing volume of Xinjiang lint is higher than that of the same period last year one hundred 10000 tons, sales progress is slow, because the futures market is now in an upside down pattern, the generation of new cotton warehouse receipts is relatively small, and the delivery logic has formed a certain support for the volume, but most resources have not been hedged in the volume, and the hedging pressure on the futures volume may continue to increase in the future.

Under the influence of the traditional off-season, demand is weak. The profit of textile enterprises is near the break even point, the pressure on finished product inventory is slightly reduced, and the order situation is still not ideal. The downstream industry also faces many uncertainties, including the intensification of economic and trade disputes. These factors make the market lack of upward momentum, and the year-end stock market performance is poor.

The domestic production increase and export demand are expected to be weak, which led to a decline in imports, which is expected to decrease by about 1.3 million tons year on year.