In May 11th, cotton futures on the Zhengzhou Mercantile Exchange went up and down, and the main 1109 contract rose 1.68% to 25180 yuan per ton compared with the previous trading day.

It is noteworthy that, recently, Zheng cotton trading positions rose sharply.

In May 10th, Zheng cotton's main contract reached 3 million 200 thousand hands trading volume, and the position also jumped to 487208 hands.

In May 11th, Zheng cotton's main contract continued to show a huge volume of pactions, reaching 2 million 610 thousand hands and holding 445664 positions.

Liu Qing, an analyst at new lake futures, told an international financial daily reporter: "from the price point of view,

Shanghai futures analyst at the medium term saw that there was not much change in the fundamentals of Zheng cotton.

In May 8th, snowfall occurred in Hami, Yili, Aletai and other places in Xinjiang, but this had little effect on cotton growth and would not endanger the future supply of cotton.

He further pointed out: "as long as it is not catastrophic weather, the impact on cotton will not be great.

Moreover, the weather has not yet entered the period of speculation, in previous years, after August, cotton began to Blossom Peach Peach, this time the weather has a fundamental impact on cotton yield and quality.

Besides the weather, the downstream demand of the cotton market is also changing little.

Liu Qing pointed out that "

"Because of the strict control of inflation in China, the tightening of regulatory policies is expected to increase, and the cost of credit has risen sharply. At the same time, the pace of RMB appreciation has accelerated, labor costs have been rising steadily, and sales of textile enterprises have been sluggish. All these factors have led enterprises to dare to take longer orders and have weak demand for upstream raw materials."

A clothing industry pointed out.

See thunder, "

Liu Qing said that the main contract price of Zheng cotton did not break through the 10 day moving average, and the price fell back to the low point.

If it falls below the price level of 24200 yuan per ton, the overall price center will once again move to 21000 yuan per ton.