Printed cotton stocks rebounded and rebounded in the cotton market

Recently, market financial institutions have actively adjusted their credit structure, and their funding needs for SMEs have been significantly increased. From this, it can be seen that some textile enterprises below the scale may be given a breathing space. Today's commodity ** market opened lower as a whole, capital inflows fluctuate throughout the day; cotton sales were active, and substantial Masukura led the commodity market throughout the day.

International market: India Cotton Advisory Committee released data show that India's production of 5.99 million tons, consumption of 4.284 million tons, is expected to export 1.955 million tons, ending stocks of only 427,000 tons, ending stocks far below the USDA forecast of 2.079 million tons.

Domestic market: Spring sowing has been carried out one after another. From the understanding of the cotton districts, the current weather in cotton areas is more suitable for cotton planting, but the cotton planting area has declined due to the increase in cost. At present, the volume and price of downstream products have dropped, resulting in continued weakness in raw material trading. Due to no quota issuance, there is a backlog of cotton outside the warehouses in the bonded area of ​​the port and the sales pressure is high.

Cotton by-products market: recent domestic and international oil and fat fuels have been pulled back, cotton and cottonseed meal sales are generally weak, and the enthusiasm of processing plants entering the market is not high, and the domestic and foreign cotton prices have fallen, all putting pressure on the cotton by-products market. Most of the city wait and see, product prices are back in the adjustment.

Related species: PTA market spot market price performance in recent days is relatively stable, trading atmosphere is flat, the actual trading is not much. Recently, the news that PTA plant equipment was cut from production and production was issued one after another, forming a support for spot prices and supporting the formation of the stock market. However, compared with the bullish factors of maintenance, the weak demand of downstream terminals continued to exert pressure on its rebound. From the point of view of the position structure, the current still has a superior advantage. However, the near-term fundamentals will continue to support its strong trend, and whether the market can continue to expand space depends on whether or not there is volume to match.

ICE cotton futures market: Overnight, due to the cotton market report released by the Indian Cotton Advisory Committee, the bullish market report boosted the US cotton futures on the 18th. The market was supported by speculative buying and short positions. Up; From a technical point of view, prices stayed near 90 cents, and the short-term is expected to continue to rebound slightly.

Matching the market: From the disk point of view, today's consensus opened higher, the average price of each contract increased; the distribution of the contract on the day is more balanced; the main MA1206 contract warehouse average price increases; recent month 1204 contract orders slightly reduced 280 tons Technically, the K-line system continues to wait for opportunities at low levels.

Zheng cotton market: From the disk point of view, Zheng cotton main 1209 contract opened higher today, intraday volatility up, closed up in the end, open positions exceeded 400,000 hands, daily gains 51626 hands. On the day, the number of Zheng cotton warehouse receipts increased by 52 to 2711, effectively forecasting 1,033 copies; technically, the average system has not shown a trend of reversal; warehouse receipt pressure coupled with weak downstream consumption continues to suppress cotton price reversal; however, it is boosted by strong external market. Zheng cotton is expected to follow up in the short-term, but the overall weakness of the fundamentals will soon restore its consolidation.

Market Overview: Printed cotton stocks are in a state of flux. The inventory at the end of the year and the inventory of the US Department of Agriculture are larger. Market comparison data analysis will make it difficult for the Indian market to release its exports. The cotton futures market rebounded sharply due to this effect. On the domestic fundamentals, the sluggish downstream consumer demand continued to make the cotton market weak. Since it has entered the spring planting and planting period, in order to ensure the enthusiasm of cotton planting, it is unlikely that additional quotas and stockpiling will be implemented in the policy, so it is difficult for imported cotton to have an impact on domestic cotton prices in the short term. Montenegro believes that short-term cotton prices may have a steady rebound, but in the medium to long term, cotton prices will continue to seek fundamentals and policy indicators in the midst of shocks.

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