Market Lacks Hype Theme &Nbsp; Period Cotton Market Narrow Shocks.
Overnight, the ICE futures contract increased steadily after opening, but the late stage of the rapid decline led to a 7 drop in cotton prices.
As the July contract is about to be delivered, many investors sell the December contract and make a short replacement for the July contract, thereby promoting the sharp rise in July contracts and limit.
Cotton prices will fluctuate sharply before the July contract expires.
In the international market, the recent drought in Texas has posed a great threat to new cotton production. Some investors have chosen to see more contracts in December.
The problem is that the news has been hyped up for a long time, and the reduction is expected to be reflected in the cotton price trend.
In addition, whether the supply of other major cotton producers will increase will also have an impact on the market.
Domestic market, 21 days, domestic
Cotton spot
Prices fell slightly, and spot trading was sluggish.
According to cotton traders, even though the price of lint quotas has been cut down, it is difficult to ship the goods smoothly because of the shortage of funds in textile enterprises, and the difficulty in purchasing goods in full quantities in procurement.
In the late stage of seed cotton purchase, the quality of cotton has obviously declined, and the enthusiasm of market acquisition is weak.
Spot quotation. In June 21st, the price of C/A cotton in the United States was 165.85 (cents / pound, the same below), and the general port trade delivery price was 27731 yuan / ton (calculated according to the sliding tax).
Australia cotton quotation is 174.85, discount general port trade port delivery price 29197 yuan / ton.
Uzbekistan cotton quotation is 179.105, discount RMB general port trade delivery price 29873 tons.
The quotation for West African cotton is 196.21, and the general port of discount is RMB.
Trade
The delivery price is 32644 yuan / ton.
National cotton price A index 26420 yuan / ton, down 5 yuan; B index 24464 yuan, down 8 yuan.
Market analysis,
ICE
In July, the US cotton contract was about to be delivered, and it was closed at the end of the short price. It is expected that the concussion of 150 cents / pound will continue to be delivered. In December, the main contract was recently supported by 123.5, the pressure was 127, and the short-term price range was more likely to run.
Zheng cotton's technical contract buying of the two contracts promoted a slight rebound in both sides. As a whole, the strong support below is effective, and the focus of the paction will move slightly upward.
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