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Gao Kai Gao Goes &Nbsp; Zheng Mian Rises Strongly.

2011/1/6 18:35:00 95

Today, Zheng cotton futures went higher and higher, breaking through the previous high point successfully, and increasing the volume of the warehouse.

The main 1109 contract opened high in 28450 yuan, followed by a steady rise in the price, the highest 29290 yuan in the market, the lowest 28435 yuan, the tail continued to rush, and finally closed at 29270 yuan, up 1000 yuan over the previous trading day, up 3.54%, 826 thousand hands trading, holding 279 thousand hands.

On the basic level, global cotton supply worries continue to support prices, including worries caused by floods in Australia and dry weather in Texas's cotton growing areas.

It is said that 90% of the cotton destroyed by floods in Queensland, Australia will lead to Australia.

Cotton export

The market has been greatly affected by the huge impact.

Texas cotton growing area dry weather affects the market cotton production is expected, India's newly registered 2 million 500 thousand tons will be shipped, the global cotton fundamentals continue to be more profitable, supporting cotton prices running high.

Domestic market situation, in January 6th, the national cotton electronic matching market volume 29160 tons, orders 74580 tons.

In January 6, 2011, China's cotton price index (CC Index328) was 27625 yuan / ton, up 16 yuan / ton compared with yesterday.

The domestic yarn market has improved significantly compared with the previous stage. Many textile enterprises have reduced the inventory pressure, and the yarn price of a larger part of the previous callback has been rising.

With the thawing of yarn market, the situation of textile enterprises in pre - holiday period has been changed.

Small and medium-sized enterprises, which once cut down production and stopped production at the early stage, gradually attempted to purchase low price lint, and some large enterprises stocked for post holiday production, and the phenomenon of bulk purchase began to appear.

Intercontinental Exchange (ICE) cotton futures closed higher in January 5th.

Index ICE-3 months

Stage cotton

The opening of the contract was weak, and at the end of the day, it suddenly burst into force. It once approached the upper limit of 4 cents. Then, as the sale increased, it ended up at $1.4520 a pound, up 0.99% from the previous trading day.

The volume of cotton contracts in March was 9892, up from 8818 on Tuesday.

On the news side,

ICAC

The latest forecast shows that global cotton output in 2010/11 will grow 15% to 25 million 140 thousand tons over the same period, slightly higher than global consumption.

Although the gradual recovery of the global economy will promote the growth of cotton consumption, the tight supply and higher prices limit consumption to a certain extent.

It is estimated that global consumption will be 24 million 650 thousand tons this year, which is basically the same as last year.

As of January 4, 2011, 1453 cotton processing enterprises in the whole year of 2010 cotton processing cotton according to the requirements of the cotton quality inspection system reform plan, and carried out notarization inspection, the inspection volume reached 2092847 tons.

Technically, Zheng cotton 1109 has broken through the important pressure level of 28960 yuan / ton, stands on 29000 highs, and has hit a short-term new high. Volume and position have been magnified, and the probability of short-term strength is bigger.

To sum up, the impact of the Australian flood and the dry weather in Texas cotton growing area is concerned about the heavy supply of cotton and the significant improvement of the domestic yarn market.

Zheng cotton has broken through the pressure level of 28960, and is concerned about whether this price can be effectively supported, and the stop loss price will move up to 28960 yuan / ton. As long as Zheng cotton can stabilize this price, many orders can still be renewed.