Cotton Daily Review April 22, 2013

< p > < strong > cotton and cotton remain weak.

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< p > last Friday, the US cotton shock, the main closing slightly declined, the focus of the Japanese market continued to sink, and did not break the 17 day low point, July contract closed at 85.36, fell 12 points, the pattern is still weak.

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< p > Zhou Xiaochuan said China will continue to adhere to the active fiscal and prudent monetary policy.

Recently, the central bank governor Zhou Xiaochuan said that in the face of the uncertainty of the global economy, the Chinese government strengthened macroeconomic regulation and control. At the same time, it attached great importance to structural reform, the economy maintained steady growth, the price level was basically stable, and the balance of payments was more balanced.

In the first quarter of this year, China's economy started smoothly and steadily. GDP grew by 7.7% over the same period last year, and it is in a reasonable growth range.

The Chinese government will continue to adhere to the proactive fiscal policy and prudent monetary policy to promote economic growth and maintain price stability.

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< p > in March, foreign exchange increased 236 billion 300 million yuan for fourth consecutive months.

Data released by the central bank showed that the balance of foreign exchange held by financial institutions in China at the end of 3 was 27 trillion and 69 billion yuan, up from 26 trillion and 832 billion yuan at the end of February. Accordingly, foreign exchange accounted for an increase of 236 billion 302 million yuan in the same month, which has increased for fourth consecutive months. This shows that with the accelerated recovery of China's economy and the expected appreciation of RMB appreciation, capital will continue to flow into China.

In April, the US dollar hit a new low against the yuan.

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< p > < strong > throwing storage announcement contents: < /strong > /p >

< p > 1. throwing and storing new cotton and imported cotton.

2. mainland enterprises can bid for the cotton in the territory.

3. approved the amount of spinning enterprises in June.

4. continue to send quotas.

5. textile enterprises can circulate reserve cotton.

6. compared with the previous time, the announcement did not mention whether the cotton reserves were allowed to enter the electronic disk delivery.

At present, the policy keynote is more clear: increasing the number of throwing and storing and the proportion of high-grade cotton, the default reserve cotton circulation is designed to increase the dumping and storage capacity.

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< p > the first batch of approved dumping and storage of 8 million 600 thousand tons.

On Friday, before the end of July 2013, the list of the first batch of textile enterprises was released, which was approved by 1223 textile enterprises, and the total amount of dumping and storage was 8 million 600 thousand tons.

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< p > strong > India will also be thrown.

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< p > Cotlook reports, insiders revealed that at the 17 meeting of the India Cotton Advisory Committee (CAB), the Minister of textiles instructed the India state owned Cotton Corp (CCI) to put cotton stocks into its domestic market.

It has been reported that CCI bought about 425 thousand tons of cotton this year.

Cotlook expects that CCI will soon announce the notice to sell 42 thousand and 500 tons of cotton to its domestic market.

It is expected that the bidding system will be tested on 23-25 April and the official bidding will begin on 26.

Cotton may be placed on a monthly basis for bidding.

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< p > < strong > total turnover of 1 million 190 thousand tons.

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< p > 19 plans to throw 77143.9885 tons of storage, 17187.3265 tons, 22.28%, among which 6423.3647 tons of cotton were sold in 2012, and 10763.9618 tons of cotton in 2011 years.

On the same day, the weighted turnover price of cotton turnover was 18887 yuan / ton, 335 yuan / ton higher than the previous trading day, and the turnover price of 328 yuan was 19058 yuan / ton.

The highest paction price was 19710 yuan / ton on that day, grade 3, total 131.0567 tons, lowest paction price 17740 yuan / ton, grade 5, total 163.11 tons.

As of April 19th, total turnover of 1193359.311 tons was 27.45%.

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< p > < strong > throwing storage and pressing spot.

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< p > snow in Hebei area in April. Due to the excessive temperature drop, the cotton sowing in spring was blocked.

The state throws the stock to suppress the spot. On the 22 day, the local cotton enterprise 4 level real estate cotton sale quotation (the delivery price, the net weight settlement, takes the ticket) 18800 yuan / ton, 5 class 17000 yuan / ton, compared to the same period last week dropped 200-300 yuan / ton.

Some cotton enterprises are eager to make moves, indicating that there is still about 300 yuan / ton of bargaining space on the basis of quotation, but there is little interest in spinning enterprises.

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< p > < strong > low price yarn is not well shipped.

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< p > weekend, the whole cotton yarn market is slack, the demand is weakened, the premium yarn price is strong, the quality yarn and the low price yarn are still available, but the late orders are insufficient, and the middle and low grade yarn is still not well shipped.

The price of all cotton yarn in a textile mill in Liaocheng, Shandong is stable, combing 32 ex factory price 30500 yuan / ton, 40 price 31500 yuan / ton, 32 price of combing 32 yuan / ton, 40 price 28200 yuan / ton, general shipment; the total cotton yarn quantity of Guangdong has obviously shrunk.

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< p > < strong > ZHENG cotton lighten up.

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< p > 22 days, zhengmian low open back, the interval in the previous trading day fluctuations, shrinking volume, positions decreased, matching in recent months fell to 19800.

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< p > 1305 contracts closed at 20395, up 95 points, 1309 to 19955, 70 points.

The total turnover was 105 thousand on the same day, a decrease of 245 thousand hands and a 197 thousand decrease in positions, with 4964 hands reduced.

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< p > ZHENG cotton in September and May the price difference reached -380 yuan / ton; futures in May and matching May price difference reached 207 yuan / ton.

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< p > up to April 22nd, 51 new cotton warehouse receipts (2040 tons) were unchanged, and 81 effective forecasts were increased, 9 more than the previous trading day.

The warehouse receipt forecast increased by 50 in April.

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< p > last week, the dumping and storage announcement was issued, which increased the intensity of throwing and storing, and the circulation of cotton reserves by default. The first batch of audit passed 1223 textile enterprises, and approved the total amount of 8 million 600 thousand tons of throwing and storing.

In terms of purchasing and storage, the implementation of the new GB and the revision of the futures delivery standard can extend the scope of the delivery, or attract a large number of low-grade cotton into the market.

In addition, the recent forecast of warehouse receipts continued to increase, reaching 81 now. It is expected that the latter will increase and the real market pressure will gradually accumulate.

Therefore, we should keep the idea of "short" for Zheng cotton.

Today, Zheng cotton lighten the warehouse and shake it up. After finishing it, it is still under the 60 day line.

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