Price trend
According to data from the SunSirs Commodity Market Analysis System, as of April 16, the domestic spot price for Grade 3128B lint cotton stood at 16,953 RMB/ton, representing an increase of 0.9% compared to the beginning of the month.
Zhengzhou Cotton Futures Lead Contract (CF2609) Market Performance on April 16
Close: 15,890 RMB/ton; Up 355 RMB/ton (+2.29%)
Market Highlights
Opening lower but rallying throughout the day, prices trended strongly upward, briefly approaching the psychological threshold of 16,000 RMB/ton during intraday trading.
Significant capital inflows and substantial position-building by bullish traders indicate a prevailing bullish market sentiment.
In the short term, futures prices are expected to remain firm—albeit with some volatility—bolstered by expectations of reduced production in Xinjiang, low inventory levels, and elevated energy costs.
|
Variety |
contract |
Closing price |
Rise and fall |
Core driven |
|
Zheng Mian |
CF2609 |
15,890 RMB/ton |
+2.29% |
Xinjiang's production reduction expectations, low inventory, downstream support Weibo |
|
American cotton |
ICE05 |
74.85 cents/lb |
+0.43% |
The production area is drought and the planting progress is slow |
|
PTA |
TA2605 |
6,622 RMB/ton |
+1.88% |
PX cost upward and equipment maintenance expectations |
|
PX |
PX2605 |
9,628 RMB/ton |
+0.63% |
Hanwha force majeure, supply contraction in Asia |
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