Domestic Cotton Market Downturn In Buying And Selling Weak Market Continues
Today, China's cotton price index (CCIndex328) is 11126 yuan / ton, down 150, and the average price of 527 cotton to plant is 10475 yuan / ton, or 201. China's cotton spot prices continue to decline today, continuing the weak market. The market is deserted and the turnover is small. The textile mills still continue to follow the quotations they buy and use, and the price pressure is relatively low. The acceptance bill becomes the main payment party. The small cotton processing enterprises have stopped collecting, but there are still some areas where cotton farmers are not actively motivated to sell cotton, and the progress of seed cotton purchase is still relatively slow.
On the afternoon of 7, the national development and Reform Commission convened a meeting of the parties concerned to study the issue of cotton macro regulation. In order to stabilize the cotton market and protect the interests of cotton farmers, it is determined that the state will increase its purchasing and storage efforts in the mainland, increase the number of storage and storage, and keep the prices unchanged. Affected by this good news, today's matchmaking and Zheng cotton have gone up sharply. Cotton by-products prices have been rising for several consecutive days, and cottonseed prices also showed signs of warming. The favorable policies of the country are gradually emerging. The state is adjusting the intensity of purchasing and storage, and the price of cotton has stabilized or is just around the corner.
Recently, the cotton purchase and sale market in Yuncheng, Shanxi continued to slump. As the local ginning mills are mostly 200 or even smaller processing equipment, there is no hope for the purchase and storage of cotton in the mainland. Individual 400 type enterprises are preparing for the purchase and storage, but they dare not have any big moves. At present, the price of local seed cotton (39% lint) is basically maintained at 2.30 yuan / Jin, because cottonseed is not processed very much, and its stability is about 0.80 yuan / Jin in the near future.
At present, Jiangxi Pengze cotton seed picking has reached more than 85%, but the purchase amount is less than 4%. In the face of the continuous shrinking of market demand and the drop in prices of by-products such as cottonseed, most of the enterprises taking part in the acquisition are facing losses and stopping to wait and see. On Monday November 10th, Zhengzhou cotton futures 901 contract opened at 10720 yuan, trading 111246 hands, holding 48414 hands, closing at 11040 yuan, up 330 yuan compared with 7 settlement price. Today, Zhengzhou cotton futures opened high in early trading. After opening, the contracts were all washed up and sidestepped. The final contract closed up, and the main 901 contract increased to lighten up, closing the line.
On the afternoon of November 7th, the national development and Reform Commission convened a meeting of relevant parties to stabilize the cotton market and protect the interests of cotton farmers. The state will increase its purchasing and storage efforts in the mainland, and continue to increase the quantity of storage and storage on the basis of the existing 1 million 220 thousand tons. On Monday, after the sharp fall last week, Zheng cotton first closed up, and the 901 contract fell sharply, ending at 11040 yuan / ton. Judging from the disk, Zheng cotton rose sharply today, the position did not increase at the same time, the market is short of popularity, and it is expected that the policy of collecting and storing up may rebound slightly. In the short term, we should pay attention to the stimulation of consumption and the news stimulation of export tax rebates. Operation suggestion: a small number of days are short.
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