Coexistence Of &Nbsp, Cotton Prices Will Continue Upward.
In January 12th,
Zheng cotton
Contracts such as 1111, 1109 and 1107 have hit a new high of 1 months, and all contracts have been increased.
Since last December, the domestic spot market
Cotton price
Began to pick up.
Since the rally began in late 11 last year, Zheng cotton's contracts have come out of a sustained upward trend, showing a near weak and far stronger market.
At present, the price of Zheng cotton contracts is all above the main moving average.
Compared with the previous rebound, as of January 12th, the closing price of zhengmian 1103 was up nearly 17%, the recent trend was somewhat volatile, and the 1109 contract rose by more than 19%, while the 1111 contract rose the strongest, or nearly 22%, of which only December increased by more than 13%.
The closing price of zhengmian 1111 was 1880 yuan / ton lower than that of the 1109 contract. Yide futures pointed out that the fundamentals of Zheng cotton were still steady, and the recent funds had begun to pay attention to zhengmian 1111.
What is the current situation of cotton spot and futures markets? Many institutions believe that cotton markets coexist.
On the one hand, in the international market, Australia and Brazil, the two major cotton producing countries in the world, were hit by rainstorms.
In the domestic market, the textile and garment industry has recovered, and export and domestic sales have been restored to growth.
The latest data of the first textile network showed that the export of textiles and clothing increased significantly in 2010, of which textile exports increased by more than 28% year-on-year, and clothing and accessories exports increased by nearly 21% over the same period last year.
It is expected that domestic textile and garment exports will remain relatively stable in 2011.
At the same time, the investment industry of the cotton textile industry has maintained a strong trend. In the first 11 months of 2010, the total investment in fixed assets increased by nearly 30% over the same period last year, which was more than 5 million yuan.
All these factors are good for the cotton market.
On the other hand, negative factors also perplexed the market.
The Chicago Mercantile Exchange said it would raise the initial margin and maintenance margin for cotton futures. India, the world's leading cotton producer and exporter, raised its cotton production forecast.
The domestic macro-control, especially the monetary environment, has also brought uncertainty to the trend of commodities.
Once the interest rate is tightened again, the future trend of the futures market is also not optimistic.
Although the factors that affect the market are complex, short-term shocks are likely.
But in the long run, cotton is still on the rise.
East Asia Futures pointed out that in the new year, the shortage of domestic cotton supply has been determined.
At present, cotton prices rise and lack of consumption should be cautious in the short term.
With the start of downstream consumption, cotton prices will continue to rise.
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