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ICE Futures Continue To Shock Trading Volume Continues To Shrink

2010/12/8 15:41:00 49

External market, ICE futures continue to shock adjustment, March contract low after the rush to fall.

volume

Continue to shrink.

Due to the announcement of the USDA12 monthly report, the atmosphere of market watching is getting stronger. Cotton prices will continue to be volatile.

In terms of technical graphics, the short-term resistance of cotton futures is the highest price 135.34 cents / pound the day before.

According to news reports, local truck drivers are likely to strike next week, which will seriously affect the shipment of cotton which is about to expire (December 15th). It is estimated that the shipment of 935 thousand tons of cotton exported before December 15th will only be completed by 50%.

It is rumoured that the India government is likely to postpone the shipment for 30 days, so no seller has delivered the goods in time.

The India government has decided to stop registration after completing the registration of 720 thousand tons of cotton yarn in the current fiscal year. The industry expects that the registration of cotton yarn exports is unlikely to restart until March 11th next year.

In the international market, in December 7th, the price of imported cotton in China was generally lower than that in the US. Cotton, West African cotton and India cotton fell 2 cents, while Brazil cotton, Australia cotton and Egypt long staple cotton fell 5 cents. Central Asian cotton remained stable, and Pima cotton continued to rise 4 cents.

According to the cotton trader, the enquiry of textile mills has been reduced after the cotton rose again, but it is difficult for us cotton to ship.

delivery

It is also an indisputable fact that fortunately, Xinjiang cotton pport is relatively smooth.

The industry is concerned about the export policy of India cotton, and the news that the shipment has been postponed for one month has not yet been officially confirmed.

In the domestic market, the domestic spot market remained stable yesterday, and the price of purchase and sale rose steadily.

Despite the strong rebound in domestic and foreign cotton futures prices since last week, but under the background of heavier interest rate expectations, the cotton enterprises' expectations for the recent market are not high. Cotton enterprises are active in sales, and some textile mills are buying in the market. However, the turnover is still at a low level, and the cotton market is expected to maintain a smooth operation in the near future.

Spot quotes, December 7th, USA

C/A cotton

The quotation is 164.10 (cent / pound), and the general port trade delivery price is 27789 yuan / ton (calculated according to the sliding tax).

Australia cotton quotation is 161.88, discount general port trade port delivery price 27416 yuan / ton.

Uzbekistan cotton quotation is 192, discount RMB general port trade pick up price 32416 yuan / ton.

The quotation for West African cotton is 164.60, and the general port trade delivery price is 27873 yuan / ton.

The national cotton price A index was 27399 yuan / ton, up 106 yuan; the B index was 26715 yuan, up 94 yuan.

Market analysis, overnight, the U.S. cotton rush to fall, the market is waiting for the late week of the United States Department of agriculture's monthly cotton supply and demand report to be released; domestic CPI data will soon be released in November, and policy regulation is still on the uplink of cotton space composition.

Dow and crude oil washed down, high pressure highlighted, is expected to fight the market bullish confidence, Zheng cotton above the pressure of 28000.

The operation suggests that the empty warehouse should be held cautiously.