Cotton Market Situation, Or Maintain Steady Growth

I. spot market

Spot price: in November 22nd, the national cotton price index A (CNCotton A) was 20384 yuan (per ton, the same below); the B index (CNCotton B) was 19594 yuan.

22, the domestic cotton price runs smoothly. Spot trading is still in the doldrums, prices are also gloomy and consolidation. Recently, the market has been discussing the issue of throwing and storing, but the new round of cotton placement policy has not yet been implemented. Many cotton mills with short-term replenishment needs have to buy spot products sporadically.

Two. Match the market.

National Cotton Trading market In November 22nd, the average price of MA1312 was 19005 yuan, unchanged from the previous trading day; MA1401 closed at 18900 yuan, the average price was 18932 yuan, down 63 yuan; MA1402 closed at 18330 yuan, the average price was 18398 yuan, down 125 yuan; the total turnover 13440 tons, reduced 14060 tons; the total order quantity was 17960 tons, reduced 100 tons.

Although the overnight cotton rebounded slightly, but today's match continues to decline this week, after the opening of the oscillation decline, closing all contracts fell, the decline narrowed slightly compared with the previous period, the intraday weakness is still evident, turnover significantly reduced, the main contract MA1401 closed at 18900 yuan, down 55 yuan. In terms of fundamentals, spot prices in the market are still weakening. The price of high-grade cotton with high-grade cotton prices has also declined steadily. The yarn Market in the downstream market has been slack, and the inventory of various factories has increased to varying degrees in the earlier stage, and the storage and storage continues, and the price of seed cotton and cottonseed is relatively stable.

Three. Futures market

In November 22nd, Zheng cotton CF405 contract opened at 18505 yuan, the highest price was 18610 yuan, the lowest price was 18505 yuan, the closing price was 18610 yuan, the settlement price was 18575 yuan, fell 5 yuan, the closing price of CF401 contract was 19700 yuan, the settlement price was 19690 yuan, fell by 10 yuan; the total turnover volume 11346 hand, accumulative position 103504 hand, reduced the 19690 hand. Zheng cotton 1405 contract has picked up a low recovery and is supported by 18500 yuan / ton in the short term. It is expected that it will still oscillate in the range of 18500--19000 yuan / ton. Short term wait-and-see is appropriate for operation.

Four. International market

Spot price: in November 22nd, the international cotton index (SM) 89.65, up 9 points, folded the general trade port delivery price 15059 yuan / ton (calculated according to the sliding tax, the exchange rate was calculated according to the Bank of China's middle price), the international cotton index (M) 86.57, increased 8 points, folded the general trade port delivery price 14732 yuan / ton.

In November 22nd, the price of imported cotton in China's main port changed little. The price of cotton and West Africa cotton did not change. Other varieties rose slightly by 0.20-0.30 cents. According to the weekly report of the US cotton export, China signed only more than 10 thousand tons last week, far below the level of more than 50 thousand tons a week ago. At present, a large number of port stocks are being digested and foreign cotton has not yet arrived, and China's imports in the short term. demand Will remain dull. However, because the current price is attractive to other countries, foreign cotton prices are less likely to fall further before China's reserve policy is determined.