India Banned Cotton Exports To &Nbsp; Zheng Cotton Rose Straight In The Afternoon.
Zheng Mian first fell and then rose, and after midday, the market price rose sharply.
The main 1209 contract closed at 22040 yuan / ton, up 280 yuan compared with last Friday's settlement price.
On the disk, the 5 day morning price continued weak, but noon market rumors India banned.
cotton
Exports, triggering a sharp rise in US cotton prices, led to an increase in domestic cotton prices this afternoon.
Generally speaking, after the announcement of the cotton purchase and storage price in the new year, Zheng cotton rushed down, showing that the hype space has been released and downstream.
demand
It is always a long term profit margin, and the overall cotton price is hard to perform well.
But the new year's storage price is determined in the case of 20400, the decline is relatively not too large, in September, the contract continued to maintain a weak concussion pattern near 21800 yuan to seek support.
Recently, the wait-and-see mood of textile enterprises has been aggravated. The quantity of cotton yarn purchased by downstream weaving mills and garment factories has decreased significantly.
Among them, cotton yarn in Shandong area
Sale
Weak, the price has slipped. In March 2nd, the average price of C32S pure cotton yarn was around 26300 yuan / ton, down 200 yuan / ton compared with last week.
Textile enterprises do not operate well. If this situation is too long, some textile enterprises will limit production, stop production or even fail.
In addition, due to the high price of Xinjiang cotton, the enthusiasm of textile enterprises to purchase Xinjiang cotton is lower than that of imported cotton.
In the past three months, Xinjiang cotton accounted for only 39.62% of the total cotton purchases, down 10% over the same period last year.
According to the change of specific gravity, many textile enterprises have reduced the amount of new cotton and increased the amount of imported cotton, and the demand for Xinjiang cotton is still dominated by buying and selling.
In March 2nd, the China cotton reserve management company plans to close and store 95750 tons of cotton in 2011, and the actual turnover is 11740 tons, with a turnover rate of 12.3%.
As of March 2nd, cotton temporary purchase and storage this year
paction
The total turnover was 2712070 tons, of which 1155630 tons were traded in the mainland and 1556440 tons in Xinjiang.
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