ICE futures fell on Tuesday the cotton small, most price for trade and the market is in tight range uneasy. 12 month period of some cotton fell 0.18 cent, for $1.0018 a pound, plate delivers interval between 0.9961 to 1.0082 us dollars.
Zheng cotton 1205 contract today at a lower price go lower. Low open in 20215, the highest 20260, minimum 20180, to close at 20190, a drop on the day 45 points (0.22%). Cotton index, open reduction warehouse 3408 hand, volume for 50000 more hands.
The physical market, on October 18 Chinese cotton price index (328) for 19759 yuan/ton, fell 57 yuan/ton. October 18, imported cotton price index (FCIndex S) to 122.41 cents per lb, down 0.88 cents per lb; Discount 1% tariff 19842 yuan/ton, fell 141 yuan/ton; Fold slippery prospective tax 20291 yuan/ton, fell 140 yuan/ton.
The new annual national cotton picking gradually, because cotton planting area increased this year (planting area of 77.8 million mu, increase of 4.7%) and the weather to cotton harvest, so the new annual cotton production is expected to 7.29 million tonnes a year growth of 9.84%. Consumption is estimated at 9.9063 million tons, up to a decrease of 108900 tons or 1.09%; The final inventory is estimated at 2.9501 million tonnes a year increase of 424600 tons or 16.81%. The overall supply and demand appear larger than last year loose change. ShouChu aspects, this week ShouChu accumulative total 1760 tons, the reserves began to increase gradually. According to the current price, cotton processing enterprise pay stored in certain profit space, and futures TaoBao profits are not significant, so pay store number increase gradually. Should be speaking, the SRB ShouChu of policy is gradually obvious and the new annual cotton prices will remain in 20000 yuan/ton nearby wave, this both for cotton farmers or industrial chain, it would be more good than harm.
From observing the disk, zheng cotton 1205 low open today, plate shocks weak end dish rebounded, open a modest increase. The whole, cotton to continue is at the bottom of the concussion. At present the operation Suggestions continued to hold short.
Source "the Chinese textile nets"
Edit: lara