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Building 120 Thousand After The 22000 Clearance Of Zheng Cotton

2011/7/7 9:44:00 65

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Zheng Cotton Market Futures

Turnover of 2 million 330 thousand hands, 120 thousand additional positions, Zhengzhou yesterday

Cotton futures

Once again become the focus of the market.

Recently, as news gets warmer, commodities

market

Frequent small warm sun, but Zheng cotton is still in the downstream channel.

Yesterday, however, the situation changed. Zheng cotton main contract 1201 traded 2 million 160 thousand hands on a single day. Net additional 12 more than 12 hands, the total position reached 739 thousand and 700 hands, the single contract position reached 534 thousand and 900 hands, all hit a new high since the launch of Zheng cotton futures in June 1, 2004.

Since Zheng cotton's two dip in June 27th, the main contract has increased nearly 200 thousand hands.

"Such a big deal and added positions, indicating that the market price difference of 22000 yuan is relatively large, I am inclined to see more."

Cotton cotton studio chief analyst Zhao Zhonghua told reporters that the price of 20000 yuan / ton near the purchase and storage price is the bottom of the future cotton value range, and cotton price downward space is blocked by policy.

In the later stage, cotton will gradually enter the critical period of growth. The uncertain factors will increase, and the risk income ratio will be tilted to the buyer.

But Dong Shuangwei, the first cotton futures analyst, held a different view. He believed that yesterday's market should be a short-term fund because there was no improvement in the fundamentals of the cotton market and even signs of further deterioration.

First of all, the downstream enterprises have entered a new round of selling and selling process, but the inventory has not yet been effectively digested. Secondly, since April, the domestic textile enterprises have limited production, stop production and look for alternatives, which makes the cotton consumption decrease. This may have a greater impact on the supply and demand pattern of cotton in the latter part of the year. Thirdly, some cotton hoarding enterprises are beginning to sell at a reduced price after being affected by factors such as agricultural loan and new flower price before listing, and a large textile enterprise in Shandong has substantially reduced the quotes of 4 grade cotton.

In addition, the new flower is growing well. The industry generally expects that there will be no worries about raw materials supply in the three quarter.

The trend of US cotton also worries the market.

A reporter interviewed

Trade

Traders believe that in July, the 5 US cotton futures contract settlement price in December hit a new low of four months. Under the general pattern of commodity inflation, the withdrawal of funds from the US cotton market is worth pondering.

Generally speaking, the weather factors are very critical to the growth of cotton in the northern hemisphere during this period and will be reflected in the change of cotton prices.

But there are not many such news in India and Pakistan. The impact of China's dry weather on cotton market has been hyped up ahead of schedule.

Huang Junfei, a Changjiang futures analyst who is studying in the field, told reporters that the industry is rather short of cotton market, especially the spinning and weaving factories.

At present, domestic cotton enterprises mainly focus on sales promotion, low grade cotton is seriously unsalable, and the downstream market has entered the off-season, and the yarn production and marketing situation is not good. Most of the enterprises are short of capital chain and short term cotton prices are hard to improve.

A trader who has made cotton spot for 20 years thinks that the current weak fundamentals can only be reflected in the 1109 contract in recent months, while the main 1201 contract is supported by cost.

The protection price of the country is 19800 yuan / ton, plus interest, storage and so on, the cost should be above 22000 yuan / ton.

In addition, the relevant data indicate that the annual global supply of 2011/2012 cotton is still in a tight balance, coupled with the overall domestic price level rising in the channel, zhengmian 1201 contract is easy to rise or fall near 22000 yuan / ton.

"Yesterday, the price of Zheng cotton was still stubbornly pulled back under the pressure of the short term, which deserving special attention.

"A well-known futures trader believes that the current cotton and PTA are the weakest varieties in the commodity market, and they are also rare varieties that dominate the stock market.

Cotton has been seen as a weathervane of commodities since last year. "

If the Bulls fail to make substantial breakthroughs on cotton, the bull market of other varieties may also be suppressed. This year's market is always changing abruptly.