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MEIKO Futures: Strong Inside And Outside Weak, Zheng Cotton 21400 Has Support

2012/2/28 9:44:00 13

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Overnight, in February 27th, US cotton futures closed slightly in the quiet trading session on Monday, due to stable buying of cotton mills to support the contract price.

Cotton contract in ICE5 rose 0.52 cents, 90.67 cents per pound, and the intraday fluctuation range was 89.74-91.34 cents.

international market

In February 27th, the price of China's main imports of high-grade imported cotton increased significantly, especially

Long-staple cotton

Cotton and some West African cotton.

By contrast, other grades of cotton fell slightly.

At present, whether China will issue additional cotton sliding quasi tax quota has become the focus of the market.

domestic market

27, cotton spot.

Price stabilization

。

As the closing date of the storage and storage is approaching, the 200 type enterprises have no seed cotton to accept, and the 400 type enterprises speed up the acquisition speed, and rapidly process, and use the remaining time to store.

The purchase amount of imported cotton in textile enterprises has been improved, and domestic purchasing desire is not enough.

Judging from the current feedback from relevant enterprises, the gauze in textile enterprises is unsalable and the liquidity is occupied by inventory. In order to maintain the basic operation, small and micro enterprises are going to stop, while the production and sales of large and medium-sized enterprises are barely maintained, but the situation of producing more than sales has made enterprises feel pressure.

On the whole, the peak season of consumption will be postponed in March this year.

In addition, the National Conference on import and export has ended in the near future.

It is understood that the Ministry of Commerce will conduct research on the spring fair in April this year, providing the basis for the next step in promoting the export policy.

Collection and storage summary

In February 27th, the China cotton reserve management company planned to store and store 2011 tons of cotton in 100100 tons, and the actual turnover was 23940 tons, with a turnover rate of 23.9%.

As of February 27th, cotton temporary purchase and storage this year

paction

The total turnover was 2664810 tons, of which 1123050 tons were traded in the mainland and 1541760 tons in Xinjiang.

Spot quotation. In February 27th, the price of C/A cotton in the US was 101.50 (cents / pound, the same below). The general port trade delivery price was 7629 yuan / ton (calculated by sliding tax, the same below). Australia cotton quotation was 112.35, the general port trade port delivery price was 18551 yuan / ton, the Uzbekistan cotton quotation was 110.35, the general port trade delivery price was 18242 yuan / ton, the West African cotton price was 102.80, the general port trade delivery price was 17056 yuan / ton.

The A index of the national cotton price representing the 229 class cotton price in the mainland is 20842 yuan / ton, which is flat compared with February 24th. The B index of the national cotton price representing the 328 grade cotton price in the mainland is 19661 yuan / ton, which is unchanged from February 24th.

Quotation

Analysis

Although the surrounding commodity market atmosphere is warm, cotton is waiting for consumption to warm up, and the cotton price of the outer market is declining to attract consumers to buy, and the Brazil cotton producing area is drizzle for cotton growth. At the same time, the decline of India yarn production indicates that the downstream consumption is still no improvement. The terminal consumption of China depends on the order situation in March.

Pay close attention to whether the US cotton can stabilize in the vicinity of 90 cents / pound. The Zhengzhou disk has the support of the reserve market and the limited space below.

Operation recommendations, 09 more rely solely on 21400 support.