Cotton Prices Are Stable And Spot Trading Has Increased Slightly (3.11-3.15).

Last week (March 11-15), the tax cuts and fees paid by the two sessions supported the policy signals of physical development to boost market confidence. Enterprises began to purchase spot market, and spot pactions increased slightly.

In February, China's textile and clothing exports amounted to US $13 billion 76 million, down 47.83%, down 35.72% from the same period last year.

The cumulative export volume in 1-2 months was US $38 billion 155 million, down 12.18% from the same period last year, of which the total export volume of textiles was US $17 billion 380 million, down 8.05% compared with the same period last year. The total export volume of garments was 20 billion 775 million US dollars, down 15.37% compared to the same period last year.

According to the monitoring system, as of March 15th, the cumulative processing of 5 million 864 thousand tons of lint, an increase of 77 thousand tons compared with the same period last year, has increased by 613 thousand tons over the past four years, including 5 million 10 thousand tons of lint cotton processing in Xinjiang, 3 million 56 thousand tons of cotton lint, and 181 thousand tons year-on-year, a decrease of 155 thousand tons compared with the previous four years. Of which, Xinjiang sold lint 2 million 489 thousand tons, and the sales rate of new cotton in the country was 47.7%, down by a percentage point from the same period last year.

The number of warehouse receipts is still increasing, with forecasts exceeding 800 thousand tons, confirming the difficulties of sales.

Cotton price B index 15535 yuan / ton, weekly rise of 46 yuan / ton, compared with Zheng cotton futures CF1905 contract, spot premium 340 yuan / ton, expand 110 yuan / ton.

Futures.

The signal delivered by the Sino US negotiations is positive, and the market support is obvious. Under the situation of slow sales of new cotton and the existence of huge warehouse receipts, the upward pressure is on the air and the pressure is tight.

The main contract CF1905 closed at 15195 yuan / ton on Friday, fell 35 yuan / ton weekly, traded 109480 hands, reduced 288630 hands, reduced 22.2%, held 384974 hands, reduced 36924 hands, reduced 8.8%.

By the end of March 15th, the top 20 seats in the position were more than 184441 hands, an increase of 1443 hands, 244183 hands empty, 8076 hands reduced, 59742 hands empty, 9519 hands reduced.

A small reduction in clearance is beneficial to the upward trend.

As of the end of March 15th, buying 2503 sets of holding positions, reducing 26 hands, selling insurance policy 46659 hands, an increase of 7921 hands.

There are only 560 hands in one cycle, more than 128 last week.

As of March 15th, 17002 registered warehouse receipts and 58 weekly reductions.

The warehouse receipt effective forecast is 3305, the week increases 604.

There are few warehouses in the forecast area, mainly in the mainland sales area, 1161 in Jiangsu, 794 in Hubei, 508 in Shandong, and 492 in Henan.

The news is relatively calm, the large number of warehouse receipts coupled with the prevalence of rolling arbitrage mode, the recent disk may still be a small oscillation of 15000-15500 yuan / ton interval.

Us disk: the Sino US talks have sent positive signals, and the concussion has gone up to a higher level. The main contract in May closed at 75.54 cents / pound, up 223 points in the week.

Technically, this week faced a psychological pressure of 76.14 cents / pound ago, it continued to focus on the latest results of Sino US negotiations.

On the spot.

It has been a month since the start of the Spring Festival, and the stock of the cotton mill has been gradually decreasing. The textile enterprises have begun to enter the market, and the turnover of Xinjiang cotton and imported cotton has increased and the prices are relatively stable.

The "double 28" Xinjiang cotton price is quoted at 15600-16000 yuan / ton (fixed), the length is 28, the price of the strong 26/27 is 15300-15600 yuan / ton, the new cotton of real estate is 14500-15500 yuan / ton, the customs clearance cotton is 16800-17500 yuan / ton, the cotton of Brazil, West Africa and India is 15500-15800 yuan / ton, and the price of the imported cotton is higher than 200 yuan / ton of the imported cotton, but the imported cotton is net weight settlement, and it is close to Xinjiang cotton.

In the 18 year, the long staple cotton inland bank quoted about 25500 yuan / ton, and there were few pactions.

Acquisition of new cotton.

As of March 17th, 968 enterprises in the country had 5 million 240 thousand tons of public inspection and 20 thousand tons per week, of which 745 enterprises in Xinjiang were tested by 4 million 950 thousand tons and 20 thousand tons per week.

There are 223 mainland enterprises and 290 thousand tons of public inspection.

Operation suggestion.

The outcome of Sino US negotiations is not clear, CF1905 recently 15000-15500 yuan / ton range probability of oscillation is larger, can scroll operation.

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