International market:
On Monday, ICE American Cotton rose 1.55% to close at 66.65 cents/pound, and CF505 rose 0.29% to close at 13635 yuan/ton. The arrival price of cotton in Xinjiang was 14676 yuan/ton, down 7 yuan/ton from the previous day. China's cotton price index (3128B) was 14807 yuan/ton, down 10 yuan/ton from the previous day.
The price of American cotton rebounded slightly at a low level yesterday, and the absolute price was still low. The driving force of fundamentals is limited, and the focus of the market is more on the macro level. It is difficult to find trend quotations in the short term, and focus on the macro level disturbance.
The export sales report released by the US Department of Agriculture (USDA) last week showed that as of January 30, the annual net export sales of cotton in the current US market had increased by 44200 tons, a decrease from the previous week 33%, 30% lower than the average of the previous four weeks, and the net increase of export sales to China was 15200 tons. The US cotton export sales will increase by 35000 tons in the next year. In that week, American cotton exports were shipped 5.37 10000 tons, 44% more than the previous week, 12% more than the average of the previous four weeks, and 6300 tons for export shipment to mainland China. Domestic market:
The price of Zhengzhou cotton futures continued to fluctuate on Monday. The closing price of May contract of Zhengzhou cotton was 13635 yuan/ton, which was flat compared with the previous trading day. In terms of spot goods, China Cotton Price Index (CCIndex) 3128B The price of Xinjiang machine picking was 14300 yuan/ton, up 70 yuan/ton from the previous trading day. The basis difference of 3128B Xinjiang machine picking price Zheng Mian's main contract (CF2505) was 665 yuan/ton.
Zheng Mian still maintained a low and volatile trend. After the festival, demand has not yet fully recovered. Cotton stocks are relatively abundant, and Zheng Mian's drive is also limited. It is expected that Zheng Mian will still maintain a low volatility trend in the short term, and the change needs to see more drivers and longer time.
Post time: 2025-02-13 14:02