In April 14Th, Zheng Cotton Market Paction Has Fallen Below 29000 Yuan Pass.
April 14th
Zheng cotton
The main contract 1109 opened 29230 yuan / ton, noon closed at 28910 yuan, compared with the 13 settlement price.
Fall
470 yuan.
Demand for textile industry is sluggish and new cotton sales in the southern hemisphere continue to decline.
industry
Continued downturn, Zheng cotton rebound pressure is still larger, the main body positions increase or decrease again and again, the market shock intensified, short-term will continue to test the support of the 29000 front line.
The near future
Textile mill
Yarn prices continue to go down, and sales are sluggish.
finished product
The backlog is increasing, and the pressure on enterprise funds has been increasing. Especially, some small and medium-sized textile mills are near collapse.
On the one hand, the strategy adopted by the textile mills is to sell products at a discount, while reducing the stock of raw materials. It is reported that some textile mills even started selling cotton stocks.
In addition, the new sale of Xinjiang cotton has also tended to slow down recently, and the price of the goods holding enterprises is not as strong as it is, and the sale is started.
Downstream acceptance is weakening.
On the international side, ICE cotton slipped for third consecutive trading days on the 13 day. The pressure on the market due to fund and commercial sales, the sluggish demand in the textile industry and the new sale of cotton in the southern hemisphere brought pressure to the market.
The cotton contract in May dropped 2.38 cents, and the settlement price was 1.9735 dollars per pound; the cotton contract in July dropped the largest and dropped 4.93 cents to 1.8064 dollars.
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