The Demand For Terminal Market Is Light And Cotton Textile Pattern Is Hard To Change.

Zheng cotton in September 20th futures Narrow range concussion closed the small line, the main 1301 contract closed down 20 yuan / ton to 19780 yuan / ton compared with the previous trading day. The turnover was 124766 hands, and the positions increased by 3180 to 240268. From the ranking of the top 20 positions of Zheng cotton, the number of long positions increased by 2091 to 65143, and the total number of empty positions increased by 947 to 97696. The net short position of the main position was 32553 (-881). There were 1125 cotton warehouse receipts in Zhengshang yesterday, 10 fewer than the previous trading day, with an effective forecast of 13.

The grain market on the periphery of the US cotton market rose to drive the US cotton futures higher, with the main contract closed up 0.39 cents / pound or 0.51% in December, closing at 76.41 cents / pound.

Spot, September 20th China cotton The price index rose by 8 yuan / ton to 18650 yuan / ton compared with the previous trading day. The price of imported cotton FCindexM rose by 0.23 cents / pound to 90.15 cents / pound compared with the previous trading day, and the import cost was 15312 yuan / ton at the sliding duty rate, and the import cotton was below the domestic cotton 3338 yuan per slip.

In the downstream market, the price of KC32S in the downstream of September 20th was flat at 25250 yuan / ton compared with the previous trading day, and the JC40S price was flat at 30610 yuan / ton compared with the previous trading day. In September 19th, the price of polyester staple fiber decreased by 30 yuan / ton to 11220 yuan / ton compared with the previous trading day. The price of viscose staple fiber decreased by 50 yuan / ton to 15150 yuan / ton compared with the previous trading day, and the viscose market was slightly adjusted. Related information: at the meeting of the China Cotton Association held yesterday, Zhang Xianbin, the NDRC, introduced the new annual policy: the current implementation of the temporary purchase and storage policy; the smooth operation of the price is the main keynote; imported cotton is not studied for the time being; the quota will not be issued later this year, and the supply and demand situation will be determined again next year.

Summary: on Thursday, Zheng cotton futures closed in a narrow range. The moving average system diverges upward, and KDJ continues to move upward, with strong technical side. On the macro side, the United States first applied for a jobless rate for the first time last week, and the leading economic indicators in August dropped. The market was worried by the deterioration of the global economy. Most of the US stock market fell, and international crude oil futures prices closed on Thursday. Mainly due to the weak performance of manufacturing activities all over the world, the results of the Spanish bond auction were good. Wen Jiabao said he wanted to buy more eurozone bonds, and the risk preference improved. The US cotton market has been depressed due to a loss of profits.

Yesterday, the amount of cotton reserves increased, and the volume of storage and storage continued to increase from 4100 tons to 16290 tons. The cotton market has been adjusted in the case of crude oil slump and driven commodity futures. Zhejiang's market cotton combed yarn has been raised more recently, with an increase of 200-300 yuan, and the price of all cotton fabric is stable. Some manufacturers have shipped better, and heard that there are a small number of large shipments, but the pressure on textile enterprises is rather large. Overall, the world's major developed economies "water" still can not alleviate the economic slowdown worries, risk appetite reduction led to Europe and the United States CRB index for four consecutive days. Most of the recent domestic commodities also continue to callback trend, although the performance of Zheng Hua futures is relatively lower in the early stage of good policy support, but the demand for cotton textile terminal market is difficult to change, and the weakness of later demand will be restricted. Cotton price The space that closes to the storage price. Therefore, investors can short sell the relatively weak zhengmian 1305 contract, with a stop loss of 20250.