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Zhengzhou Cotton Lighten up the Increase, the Futures Price Fluctuated and Closed down

August 06 2021 08:20:05     Ruida Futures (Linda)

Domestic disk: Zhengzhou Cotton 2109 contract closed at 17115, -0.38% from the previous trading day; the highest was 17270, the lowest was 17100; the trading volume was 246329, and the position was 271603, -28142; the basis was +395, +128; CF September-January The spread is 280, +10. CY2109 closed at 26670, -0.50% from the previous trading day; the highest was 26,950, and the lowest was 26,625; the volume was 7137, and the position was 5219, -603; the basis was +480, +165.

External disk trend: Intercontinental Exchange (ICE) cotton futures continued to close on Wednesday, recording a third consecutive day of gains. The most actively traded ICE December cotton closed up 0.44 cents or 0.50%, and the settlement price was at US$90.31. Cents/pound.

In the news: On 18 4, China Cotton Reserve Management Co., Ltd. plans to list out the warehouse for sales of 9400 tons of reserve cotton, with a transaction rate of 100%, and an average transaction price of 17,216 yuan/ton, an increase of 151 yuan/ton from the previous trading day. The price of 3128B was RMB 18,461/ton, an increase of RMB 129/ton from the previous trading day. 2. From day to night on the 6th, in the mountains of Ili Prefecture, Bozhou, Tacheng, southern Shihezi, southern Urumqi, Changji, Kashgar, Kezhou, Hotan, and Aksu There were light to light rains in some areas of the mountainous areas, Bazhou mountainous areas, northern Hami City and other places, moderate to heavy rains in some areas, and local heavy rains.

In terms of spot: cotton price index 3128B was 17513, down by 2 from the previous day's spot price; cotton yarn price index C32S was 27150, unchanged from the previous day's spot price. (Unit: Yuan/Ton)

Warehouse receipt inventory: 12,465 cotton warehouse receipts in Zhengzhou, -240, and 1057 effective forecasts.

Position analysis: The top 20 long positions of Zhengzhou Cotton Contract on that day were 370,192 lots, short positions were 467,542 lots, and net short positions were 97,350 lots. On the day, the top 20 long positions of cotton yarn contracts were 7,575 lots, short positions were 7,693 lots, and net short positions were 118 lots.

View summary: Intercontinental Exchange (ICE) cotton futures continued to close on Wednesday, recording a third consecutive day of gains, due to relatively stable demand, but a strong US dollar reduced the gains. In terms of supply, the current reserve cotton continues to be released, the superimposed import cotton slip quasi-duty quota is issued, and the procurement channels of textile enterprises increase. The significant decline in commercial inventories, coupled with the tight structure of high-quality cotton, supported the cotton market. In terms of demand, downstream demand does not continue in the off-season, coupled with the current lack of work, power curtailment, etc., textile enterprises have started to decline, and the low inventory effect still exists, which is good for the cotton market. The domestic epidemic situation continues to be concerned, and some production areas have encountered local transportation problems, which is not conducive to delivery in the short term. Operationally, it is recommended that Zhengzhou Cotton 2109 contract continue to buy long orders every callback in the short term.

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