MEIKO Futures: There Is Adjustment Demand, The Trend Will Not Change.
Overnight, cotton futures closed slightly higher in February 1st, reversing the first two trading days, and the expansion of the month's contracts indicates that market demand is recovering.
The ICE index was 0.14 cents higher in March cotton.
Collect newspaper
93.39 cents per pound, the intraday trading interval is 93.20-94.21 cents.
International market, February 1st.
Imported
Cotton China's main port price continued to fall, most varieties fell by about 1 cents, while India cotton prices remained strong.
At present, the market continues the festive atmosphere, textile mills are not eager to replenish inventory.
With the advent of the cotton growing season, the supply of market resources will again arouse widespread concern in the market.
The domestic market, 1, cotton spot prices continued to rise slightly, textile enterprises have opened business, raw material purchase intention is not strong, the market is slightly dull, the downstream cotton yarn market lack of substantive good news, price trends remain stable, sales are not large, cotton prices are still facing downward pressure.
Spot quotes, February 1st, C/A cotton in the United States
offer
For 111.35 (cents / pound, the same below), the general trade port delivery price is RMB 18405 yuan / ton (calculated by sliding tax, the same below); Australia cotton quotation is 116.85, discount general trade port delivery price 19268 yuan / ton; Uzbekistan cotton quotation is 114.35, discount general trade port delivery price 18878 tons; West Africa cotton price is 104.35, discount general trade port delivery price 17294 tons.
The national cotton price A index of 20540 yuan (per ton, the same below) rose by 8 yuan; the B index was 19314 yuan, up 9 yuan.
Market analysis, cotton enterprises continue to open, cotton prices continue to rise slightly, the market is not enough heat.
Purchase and sale
Slow progress.
Due to the stagnation of China's Spring Festival's external purchase, the US cotton price continued to close in the vicinity of the 60 day average line overnight.
The trend of Zheng cotton is less affected by the external market. PTA, as the textile raw material, shows a trend of pressure consolidation, but the trend is good. The substitution leads to the rising demand of Zheng cotton.
1205 the target location is 22000 of the paction intensive area.
Zheng cotton has already appeared in the exhibition trading. 1209, compared with the 05 contract, the pressure is low, and the paction is gradually active.
The operation suggests that technology should be adjusted to meet demand, and profits should be partially recovered.
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