Much Attention Has Been Paid To The Situation And Storage Of Cotton Reserves.

On Friday, Zheng cotton prices were at a high level, and the main contract went higher and higher. After that, the price was slightly callback, the price of late trading rose, volume increased and positions increased. At present, Zheng cotton's holdings were nearly 580 thousand, and the daily output increased to 45 thousand.

At present, the warehouse number is 923 (-4), and the effective forecast volume is 754 (0).

1609 the contract settlement price is 13040 (+320), the 1701 contract settlement price is 12820 (+205), and the 1705 contract settlement price is 12820 (+145).

The total turnover was 233 thousand and 400 tons, with a turnover rate of 98.42%.

today

The launch of resources is still relatively small. Starting from Wednesday, the amount of reserve cotton began to decrease, Wednesday 25 thousand tons, Thursday 20 thousand tons, and Friday 20 thousand tons. On the one hand, the reduction in stock volume was relatively low, and the shortage market was a great influence. On the other hand, it also made people worry more about the difficulty in storing cotton and the difficulty in fiber inspection.

So Zhengzhou cotton prices rose this week.

In the short term

If the problem of slow progress in the warehouse is not solved, and the amount of reserve cotton is maintained at 20 thousand tons, the price of zhengmian will easily rise and fall.

Recently, the price of agricultural products has been strong, and Zheng cotton has increased its position. It is technically strong. It is concerned about whether the previous high point is broken or not, and the risk is relatively high in the near future.

Related links:

In May, the National Bureau of statistics data showed that China's April industrial added value, total retail sales of social consumer goods and fixed asset investment all fell down, and real estate data only improved.

Private investment continued to slow down, indicating that the momentum of further stabilization of the economy was insufficient. Economic stabilization still depended on traditional industries, especially real estate, and new economic power was lacking.

In May, the domestic stock market plummeted, and the domestic futures market was led by the previous black line, iron ore and screw thread.

The Fed releases interest rate signals again, pressure on commodities and volatility in the RMB exchange rate.

China's official manufacturing PMI50.1 in April dropped 0.1 percentage points from last month, and continued to expand in the expansion area. China's April inflation data (CPI) was flat for China's CPI in April, reporting 2.3%, meeting the expected 2.3%; PPI compared to -3.4%, expected -3.7%, the previous value -4.3%.

China's generating capacity in March was 444 billion 400 million kwh, down 1.7% compared to the same period last year. In 1-4 months, the investment in real estate development in the whole country increased by 7.2% compared to the previous year, reaching a new high, 6.2% higher than the previous value. In April, China's M2 growth rate decreased from 13.4% to 12.8%, and +13.5% was expected.

Among them, exports of 4 trillion and 137 billion 360 million yuan, down 2.1%; imports of 3 trillion and 29 billion 740 million U. s.dollars, down 7.5%.

From the data released in May, China's economic growth is slowing down steadily, and real estate continues to stimulate economic growth, but sustainability needs attention.

Profits of steel and coal and other overcapacity industries have improved rapidly, and structural problems are still serious.

Debt and other issues have not yet been well resolved, but on the other hand, the leverage of real estate loans has increased.

Although the short-term stimulus has made the domestic economy recover slightly, especially the real estate economy, structural reform has not yet seen effective implementation and improvement. The short-term policy stimulus for the economy is like a small dose of medicine after the serious illness of life.

Domestic cotton (13070, 30, 0.23%), supply side, as of the end of April, the domestic cotton business inventories of 1 million 180 thousand tons, there is a big gap in domestic cotton, cotton turnover was hot, the proportion of imported cotton was 100%, while the proportion of domestic cotton reached 98%.

On the one hand, due to the lack of cotton in the short term in China, on the other hand, due to the concentration of imported cotton warehouse, the actual auction of the reserve cotton is not much in the market, so although the reserve cotton price is low, the domestic cotton spot price is slow down.

In terms of demand, May is also a small peak season for textiles. Moreover, due to the anticipation of dumping and storage, the inventory of enterprises remains low, while the national storage cotton is difficult to get. Therefore, the purchasing and auction of cotton enterprises by textile enterprises in May are still large.