Good Signal To Release Reserve Cotton Wheel Out Of Spanaction Price Rise

Last week (June 2019 17-21) was the seventh week of the central reserve cotton mill in 2019, and China Cotton Reserve Management Co., Ltd. has accumulated 49 thousand and 400 tons of reserve cotton, of which 25 thousand tons of Xinjiang cotton and 24 thousand and 400 tons of real estate cotton.

In the week, the average price of reserve cotton rotation was 12848 yuan / ton, up 113 yuan / ton compared with the previous week, and the price of standard grade (3128B) was 14059 yuan / ton, up 23 yuan / ton compared with the previous week. The average price of Xinjiang cotton was 13010 yuan / ton, 164 yuan / ton higher than the previous week, and the price of 3128B was 14170 yuan / ton, up 118 yuan / ton compared with the previous week. The average increase was 600 yuan / ton, up 376 yuan / ton compared with the previous week. The average price of real estate cotton was 12662 yuan / ton, up 129 yuan / ton compared with the previous week, and the price of 3128B was 13931 yuan / ton. In the week, the maximum price of reserve cotton was 14320 yuan / ton, and the lowest spanaction price was 11900 yuan / ton.

Last week, the leaders of China and the United States released a positive signal on trade consultations, and domestic and foreign futures rose together, and domestic cotton spot prices also rose by 200-400 yuan / ton, but the turnover was still not satisfactory. Cotton companies paid more attention to the auction situation of cotton reserves. Last week, the reserve price of the reserve cotton was further lowered to the lowest position since the central reserve cotton came out in 2019, which superimposed the favorable signal of Sino US trade, and the bidding enterprises' enthusiasm for purchasing cotton reserves increased significantly.