Cotton Prices Rise Madly, State Reserve Administration Is Calm.
For the first time in the second half of this year, the national cotton auction was successfully carried out yesterday. The paction price was mostly around 17700 yuan / ton, not as good as expected.
In the next more than 40 working days, the national cotton auction will be held continuously, and the textile enterprises will have a strong wait-and-see mood.
It is understood that this national cotton reserve auction total 600 thousand tons, daily
Sale
The quantity is 15 thousand tons, and the total sell-off is expected to be completed within 40 working days.
From the first day, although the bid price is 16500 yuan per ton, the enthusiasm of textile enterprises is not high, and the paction price is mostly around 17700 yuan / ton. The price has not been expected to be hot.
Domestic cotton enterprises and cotton are all concerned about the auction of cotton reserves.
Zheng Fucai, general manager of Henan Wan FA cotton industry company, told the Securities Times reporter that the auction price is slightly higher than the spot price, which is more rational and not overdone.
After all, cotton traders and purchasers hold higher expectations for the purchase price of cotton this year.
"The enterprises that are allowed to take part in the auction qualification are mainly small and medium-sized enterprises. Their supplementary resources are characterized by urgent goods, but small quantities. In the early September, there will be new flower processing and listing in succession. The purchasing focus of these small and medium enterprises will turn to new cotton, which is also an important reason for the failure of the cotton throwing price.
And the auction will continue to the new cotton market, basically meet the needs of these textile enterprises, resulting in a strong market sentiment. "
A staff member of the China Cotton Association said not to be named.
A person in charge of the market auction also said this approach.
Purchaser
The textile and cotton enterprises that are limited to the spinning statistics of the National Bureau of statistics shall be restricted to control the weekly bidding quantity of the enterprises. The total number of weekly bidding pactions of the textile enterprises with more than 200 thousand spindles shall not exceed 10 days' cotton consumption, and the cotton textile enterprises with less than 200 thousand spindles will not make the purchase progress restriction temporarily, which greatly reduces the possibility of large enterprises' sweeping goods.
In addition, some enterprises in the pre-sale auction changed hands.
Reserve cotton
As a result, the state has also increased the penalties for speculation and reselling.
According to the regulations, if the textile enterprises that have found bids have sold the cotton reserves and investigated the facts, the price will be deducted according to the standard of 1000 yuan per ton. If the margin is not enough, they will be recovered in accordance with the law, and their qualifications for the bid auction of cotton reserves will be abolished, and they will not be involved in the bidding of cotton reserves for three years.
This is the first time in the State Cotton Storage and rotation measures, indicating the state's determination to control cotton supply and demand and stabilize the price of cotton market.
As the early market basically digested the dumping and storage information, in August 10th, Zhengzhou cotton futures 1101 contract opened at 16700 yuan / ton, closing at 16825 yuan / ton, up 110 yuan / ton compared with the 9 day settlement price, 265 thousand hands and 186 thousand positions.
Shanghai mid-term analyst sees the thunder thunder to think, the investor hoped that the cotton price will rise before the new cotton goes on the market is not realistic.
Judging from the current situation, in addition to Pakistan's flood reduction, output in the US, China and India has increased significantly.
Cotton growing in Xinjiang, Shandong and other major cotton producing areas is ideal and is expected to yield a bumper harvest.
According to the ICAC8 month forecast, global cotton output will reach 25 million 240 thousand tons in and consumption of 24 million 920 thousand tons, and global production is expected to exceed 320 thousand tons of consumption.
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