After entering August,

Entering the traditional peak season of consumption has promoted the enthusiasm of cotton enterprises in purchasing new cotton.

In addition, cotton prices rebounded in recent days under the support of favorable policies such as China's purchasing and storage policy and the economic situation that is expected to turn better.

In view of this, the reporter interviewed Haitong futures Nanning Sales Department wind control director Chen Hongyan.

Reporter: from the beginning of this year to the end of July, the domestic and foreign cotton market was at a low level.

Entering the August, clothing entered the peak season of traditional consumption, and cotton prices rose.

What do you think of the signs of cotton rising in the doldrums?

Chen Hongyan: according to various economic indicators in July, the momentum of China's economic stabilization and recovery has begun to appear. This has also created conditions for the stability of domestic commodity prices.

Judging from the disk, zhengmian 1301 rose slightly from the bottom of the previous 18540, and the stock of textile enterprises in the spot market is very low, which is already at a new low. However, the stock of upstream cotton enterprises is increasing, indicating that textile enterprises are not actively purchasing.

However, after entering August, clothing will enter the traditional consumption, to a certain extent, will enhance the enthusiasm of cotton enterprises to purchase, so it will benefit the cotton prices.

In addition, American dry weather speculation has made soybean, soybean meal, corn and other commodities go up all the way, which may give cotton a chance to turn over.

In the middle and late 8 months of the past year, cotton entered the critical growing period, after the boll opening period, and the rainfall increased significantly, which will also help the cotton market to pick up.

Reporter: market analysis, cotton bottoming market, the bottom has emerged.

How do you view this view?

Chen Hongyan: at present, although the current global cotton consumption is still at a low ebb, the cotton price strongly supported by domestic purchasing and storage policy is very likely to get out of a rebound before the end of next year's end of March.

Buying more dips will be an appropriate choice for investors to carry out cotton trading in the rebound cycle.

It is noteworthy that at present, domestic spot stabilization has not improved significantly, but the spot business has recovered slightly, and the yarn market has recently recovered.

There is no official news about the current vacuum, storage and quotas.

Technically, Zheng cotton is facing greater resistance in the vicinity of the pre pressure level. It is more difficult to break through the price gap without the external market and substantial profits, but at the moment it needs to be cautious.