SunSirs: US Cotton Recovered during National Holiday, Cotton Prices Have Compensatory Growth after Festival
October 11 2019 19:44:36 SunSirs (Linda)SunSirs: Oct 9
According to SunSirs’ price monitoring, on Oct 9, the average price of 312B Lint is 12,610RMB/t, 22RMB/t (0.17%) higher than that of the last trading day.
On Oct 9, CF2001 prices continue to rise, with a maximum of 12,365RMB/t and a minimum of 12,150RMB/t. The closing price is 12,320RMB/t, 1.61% higher than that of the previous trading day. The turnover is 62,1580 lots and the open interest is 641,768 lots.
On Sep 30, the selling of cotton reserves ended. During this period, a total of 1.62 million tons of cotton were listed for sale, including 570,000 tons of Xinjiang cotton and 592,000 tons of other cotton. In 2019, the average transaction price of the central reserve cotton is 12,633RMB/t, the standard grade (3128B) price is 13,902RMB/t, the highest price is 15,930RMB/t, and the lowest one is 10,750RMB/t. Among them, the average transaction price of Xinjiang cotton is 12,794RMB/t, with an average increase of 707RMB/t; the average transaction price of other cotton is 12,444RMB/t, with an average increase of 425RMB/t.
As the new round of Sino-US trade negotiations approaching, US cotton futures recovered sharply last week. On October 5, US cotton futures closed at 61.76 cents, increasing 2.18% in the week.
Analysts from SunSirs believe that the rise in cotton prices in the past two days is due to the closure of the National Day holiday, prices of Zhengzhou cotton have ompensatory Growth, and the withdrawal of cotton reserves from the stage, the pressure of cotton merchants for selling is reduced accordingly. But cotton consumption is expected to decline again, dragged down by demand, cotton prices are expected to fall.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
- 2024-01-03 SunSirs: The Intentional Planting Area of Cotton in China in 2024 Decreased
- 2023-10-25 SunSirs: The Quotation for Imported Cotton Increased Significantly Yesterday
- 2023-05-29 SunSirs: Cotton Market Rose First and then Fell This Week (5.22-5.27)
- 2023-05-24 SunSirs: In April 2023, China's Cotton Cloth Exports will be 532 Million Meters
- 2023-05-22 SunSirs: Cotton Prices may be Stable and Relatively Strong in the Short Term
