SunSirs: A Good Start after New Year's Day, Focus of Cotton Trend is up
January 06 2022 08:28:44 SunSirs (Linda)
On January 5, the price of 3128B lint was 22,317 yuan/ton, an increase of 0.98% from the previous month.
On January 5th, the average price of domestic cotton price index 3128B grade was 22246 yuan/ton, an increase of 139 yuan/ton from last weekend. Since New Year's Day, the cotton market has risen, and domestic and foreign cotton futures have risen in different ranges. Zheng Mian’s main force continued to rise, and the main contract settlement price was 20,935 yuan/ton, an increase of 365 yuan/ton from last weekend. U.S. Cotton's recent contracting situation has improved and the macro is positive, and the ICE futures cotton has soared. Recently, downstream cotton yarn shipments have improved, some spring and summer orders have been placed, and the form of enterprise orders is better than the previous period, and the inquiries of textile and clothing enterprises have increased.
There was still demand for the downstream conventional seasonal stockpile, which provided good support for cotton prices. It is expected that the short-term cotton market will have an upward focus.
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