Home > Commodity Intelligence
According to statistics, as of October 9, the inventory of major ports of imported cotton fell by 0.8% week-on-week, with a total inventory of 480,500 tons.Among them, the inventory of imported cotton in Qingdao, Jinan ports and surrounding warehouses in Shandong was about 391,000 tons, down 1% week-on-week, and 58.9% higher than the same period last year; The inventory of imported cotton in Zhangjiagang Port and surrounding warehouses in Jiangsu is about 54,500 tons, and the inventory of other ports is about 35,000 tons.This week, the inventory of imported cotton at the port fell steadily and slightly, mainly due to the small amount of stock and delivery of textile enterprises before and after the holiday. In October, the bidding quantity of HBIS 75B ferrosilicon was 2,036 tons, and the bidding quantity in the previous round was 1,200 tons.Among them, Wuyang Xinkuan is 300 ( 100) tons, Handan Iron and Steel is 700 ( 300) tons, Tangshan Iron and Steel New Area is 500 ( 200) tons, Chenggang is 200 (-) tons, Zhangxuan Hi-Tech is 170 ( 70) tons, and Shigang Special Steel is 166 ( 166) tons, and the bidding deadline is 2024-10-12 9:00. HBIS tendered for ferrosilicon in October at 6,650 yuan/ton, and the supplementary price at the end of September was 6,650 yuan/ton, which was the same as the previous round.In October, the bidding quantity of HBIS was 2,036 tons, and the number of bidding in the last round was 1,200 tons.Among them, Wuyang Xinkuan is 300 ( 100) tons, Handan Iron and Steel is 700 ( 300) tons, Tangshan Iron and Steel New Area is 500 ( 200) tons, Chenggang is 200 (-) tons, Zhangxuan Hi-Tech is 170 ( 70) tons, and Shigang Special Steel is 166 ( 166) tons. In the early stage, due to China's favorable policies and the concentrated stimulation of the Federal Reserve's first interest rate cut, copper prices rose strongly.From this point of view, the bottom policy has been opened, and copper prices are expected to be strong in the medium term.After the release of the pre-holiday positive concentration, the market sentiment tended to stabilize.At present, after the introduction of domestic real estate stimulus, if the effectiveness is gradually confirmed in the later stage, it will continue to boost copper prices.In addition, the global easing cycle has begun, but judging from the recent Fed inflation data, there is still a possibility of recurrence, and the magnitude and progress of interest rate cuts in the later period may directly affect the price upside.