Zheng Cotton Fell Slightly
In August 23rd,
Zheng cotton
A slight decline, the main contract 1205 opened 21835 yuan / ton, noon closed at 21400 yuan, compared with the 22 settlement price fell 40 yuan.
Overnight (22 days)
ICE cotton
Small increase, lack
Macro economy
News prompted many market participants to stay away from the sidelines and continue to remain depressed in the summer.
The recent cotton rally seems to have ended, and the turbulent economic outlook may further soften cotton futures.
At present, the spot price of lint begins to stop, and spot trading appears.
Warming up
There are signs that some textile enterprises have slightly improved in response to the sales situation, and enquiries for upstream acquisitions and processors have begun to increase. The long lost demand for replenishment is likely to emerge in the next step and consolidate the current stable cotton prices.
But with the centralized supply of new cotton, the probability of a sharp rebound in cotton prices is small.
It is worth mentioning that at present, high and low lint sales are polarized, and the price of high-grade lint is relatively stable and the turnover is better. However, the relatively low grade lint inventory is still hard to digest, and the cotton market is still unstable.
In the international market, the US cotton contract in December has gone up sharply and has fallen slightly.
The opening price is 104.16 cents / bushels, the highest 107.82 cents, the lowest 104.16 cents, closing price 106.45 cents, up 0.23 cents.
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