Outside the cotton growing inventory quotation why still defensive?
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Textile information -
Textile net -
Textile integrated service provider
According to Qingdao, zhangjiagang port traders such as quotation, 36 (March 6 M
1/8, 28 GPT)
,M 38 (
Powerful 29 GPT)
Net price respectively is 13400 -
13450 yuan/ton, 13550 -
13600 yuan/ton (
Are the basis price)
And 2018/19 SM - 1
West Africa cotton (1/8
Benin, burkina faso, Mali, mainly)
The net weight concentrated in the 13500 - quotation
In late February quotation back in 100 - as a whole
Although ICE, zheng cotton main contract wide fluctuations, but traders, by adjusting the basis of export enterprise and cotton outside the quotation is 'top' on the bottom, under the status of the market sentiment is not with the new crown worldwide epidemic outbreaks, the Wall Street crash and spinning clothing enterprises in China to return to work and production progress is slow and volatile.
Industry analysis, the cause of cotton spot more defensive outside can be summarized as follows: first, in February 1 / port bonded and non bonded cotton resources concentrated to large international cotton business, import enterprises (
Small traders, middlemen considering the risk, financial pressure from)
, to resist the ability of the risk of price fluctuations increase;
Secondly, traders 3 - to China
July signed import American cotton, the federal reserve to cut interest rates and the joint global success of 'the plague' expected stronger, think that after the outbreak of China, the global economy and cotton consumption will be into the 'fast track';
Thirdly, moderate expansion and the U. S. economy MSP acquisitions, the Chinese government has a strong purchase XinJiangMian bullish are become an important factor supporting traders.
Small non-farm figures released late on Wednesday the United States: the American ADP employment increase on February 18.
17 services employment population increase.
, better than expected an increase of 170000, suggests that America's job market is still strong, can resist most risk because of the outbreak of the new champions league.
According to several cotton traders feedback, due to the bonded library, entrepot storage and other business are greatly influenced by the outbreak of the new champions league, such as loading and unloading, handling, logistics and so on, leading to the intermediate links costs rise;
Plus in January and February bonded + non bonded cotton 'less' inbound, outbound, outside the warehouse pressure continues to rise, so the storage charges are expected to be slightly raised, such as cotton bonded library hope to speed up the outbound, circulation, improve the utilization rate.