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Current: home >>News >> Lace Market >> Cotton supply and demand in tension

Cotton supply and demand in tension


Business News Agency Nov. 1 deadline to Friday, Zheng cotton contract by August's CF1105 18,000 yuan / ton up to 27,980 yuan / ton, 1,3,7,9 contracts have exceeded 28,000 yuan / ton, November contract even break 30,000 yuan / ton. Model from the rising point of view, the trend has entered the cotton Cheng need ready before Xuzhang stage. When the cotton jumped 28,000 mark, the latter still up space? Yin yang last week plus a presage of cotton has reached the top? The author believes that the new cotton is not listed and a lot of hot money speculation boom has not dissipated the case of cotton upside still. Weak U.S. dollar index is difficult to change temporarily Since June, the United States a series of weak economic data and the expected easing of monetary policies, the dollar fell frequently, the dollar index fell to 80.085 from 88.708 to 83.559 after the rebound. The end of August in the appreciation of the renminbi, the U.S. second round of the loose monetary policies expected and the global impact of quantitative easing, the dollar fell again to open the channel, fell to 76.144. G20 currency after the recent summit, the war temporarily "turn off" better than expected U.S. economic data combined with the Chinese interest rate of RMB to restore flexibility to stabilize the dollar decline. However, I believe, a weak U.S. dollar temporarily difficult to change, particularly since mid-term elections approaching, the U.S. is expected to once again loose monetary policies implemented to stimulate economic growth, currency next month, the war may be a repeat of G20 summit. Fund net long position is still the pattern of New York Futures Exchange, October 22 fund position data, as of October 19, in the cotton market, the funds have holdings in both long and short, of which 12 bulls less than 2361 hands, reduce the 2703 short hand fund net long 35,362 hands, compared with 12 increased rate of 66.4% net long, 12 to 65.5%. Since the end of the Fund since 9 decrease in net long positions, the net long rate dropped from 70% to 66%, but still in the net long pattern. Strong demand from downstream industries rigid National Bureau of Statistics said the September export of China's textile industry continues to boom, monthly retail sales 1.3537 trillion yuan, up 18.8% over the August increase of 0.4 percentage points above corporate garments, textiles Retail 459 billion, representing an increase of 60 billion in August, an increase of 26.7% over the August increase of 1.2%. Customs statistics show that in September China's textile and apparel exports of $ 20,015,000,000, an increase of 19.5%, a decline of 0.6% in September exports of fabrics and $ 6,814,000,000, an increase of 20.2%, growth of 2%; apparel and clothing Annex imports 13.201 billion U.S. dollars, an increase of 19.13%, a decline of 2%. National cotton market monitoring shows that early October, the national cotton industry stocks were down nearly 9%, the procurement of raw materials for textile industry which accounted for 77%, compared with early September increased by 7 percentage points, cotton demand is very strong. The view from the supply of cotton this year as rising cotton prices made farmers reluctant to sell their psychological enhancement, Tuen hot money has a price of cotton makes the emergence of cotton without the embarrassing position of cotton, the cotton industry stocks depleted, the recently completed 100 million tons cotton reserves The cast has very little storage capacity up cotton reserves, combined with restrictions on imported cotton to Hong Kong time, making a short supply of cotton is still very tight. Fund net long position in cotton India's cotton export quota retrial Cotton exports from India after the opening, closing to 29 days, India has approved the export of about 440 million bales of cotton exports, India's largest exporter of the year the previously reported number of 550 million bales, the weight of 170 kg per package. But recently forced to cancel domestic and international pressure on cotton export restrictions, India will be a retrial in December cotton export quota. In the case of cotton supply, India's export policy change will be more sensitive to the market. If the market that India is expected to increase export credits, then the cotton price increase would be cool. But in the global cotton supply situation, which can only lead to short-term adjustments, it is difficult substantive change pattern of cotton prices.
[From: 原创] [Author: Wang] [Date: 10-11-20] [Hits: ]

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