Since June, the price of Zheng cotton has fallen first and then increased, showing a V-shaped trend, which hit a record high in the previous session. As of the close, Zheng Xin cotton main 1701 contract closed at 13,570 yuan / ton, up 370 yuan or 2.8%. According to industry insiders, Zheng cotton prices have been trending stronger recently due to the combined effects of cotton policy, strong external disk performance, rising spot prices and market supply and demand. At present, reserve cotton dominates the market trend of cotton prices. It is expected that the effective supply of cotton spot will continue to be insufficient before the change in throwing storage policy. Coupled with the boost from some companies, the period price is expected to remain relatively strong. “In recent days, the cotton futures price was mainly affected by changes in policy expectations.†Hou Xueling, Guoxin Futures Research and Development, said that at the beginning of the month, the market rumors that cotton throwing reserves will increase and domestic cotton testing will accelerate, but as time progresses, rumors have not been confirmed, instead cotton Disposal can not meet the spot demand, resulting in the more intense spot, so the period began to repair the rise. The latest report of the US Commodity Futures Commission (CFTC) shows that as of the week of June 14, hedge funds and large speculators held a long position of 87,955 contracts of cotton and a short position of 41,239 contracts. The net long position increased to 46,716 for five consecutive weeks. A record high of more than 5 months. CITIC Futures analyst Wang Yan believes that the recent trend of Zheng cotton prices tends to be stronger, mainly due to the linkage between internal and external factors. On the external front, Indian cotton prices continued to rise, and US cotton prices were fiercely high near 65 cents. On the domestic side, the daily reserve of reserve cotton remained at the level of 20,000 tons to 30,000 tons, and the turnover rate remained high. At the same time, since the beginning of this month, the cotton price in the spot market has remained firm, and the cotton circulation resources are at historically low levels. Data show that yesterday, China's cotton price index closed at 12,686 yuan / ton, up 19 yuan / ton; 2227B level to close at 11,745 yuan / ton, up 22 yuan / ton; 2129B level to close at 1,305 yuan / ton, up 6 yuan / ton . At present, the dumping policy is still the focus of the cotton market. “At the current stage, cotton stocks are placed in the dominant cotton price trend. The specific factors include the daily delivery volume and the delivery schedule,†Wang Yan said. On June 13th, at the training meeting for stockpile storage and the public inspection business process held in Texas, China National Cotton Corporation clearly indicated that it was necessary to guarantee the volume of reserve cotton. Some traders said that if the volume of rotation increases, Zheng cotton prices will be suppressed. According to the current situation of stockpiling of textile products, it is expected that cotton will be purchased in a concentrated manner in August, and a wave of rising prices may occur again. “Since mid-June, there was no sign of heavy losses in the stockpiling. At present, the China Storage Cotton Adjustment Work Plan increases the amount of public inspections, and it is expected that the results will be seen in late June. This has also become one of the major pressures on Zheng cotton prices.†Hou Xueling said At present, it is unlikely that there will be major adjustments in policy. In June, more than half of the time, the State Reserve’s cotton traded only 224,000 tons, which could not meet the cotton demand of textile companies. If the stockpiles cannot be put in practically in late June, the market is expected to Once again, the weak Zheng cotton may rebound again. For the market outlook, Wang Yan said that at the current stage, reserve cotton dominates the market trend of cotton prices. If cotton reserves are kept at the current level, Zheng cotton will maintain its strong operation. Recently, Zheng cotton tested the resistance at the top, Masukura over 40%, concerned about the resistance level breakthrough situation, it is recommended that more short-term operation. Functional Fabric,Rpet Cooling Climbing Fabric,Recycled Antibacterial Pa Fabric,Recycled Antibacterial Pet Fabric Suzhou Jinnan Textile Technology Co., LTD , https://www.jinnantextile.com
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November 09, 2022