Early Comment On Cotton Market In October 30, 2012

Overnight, as the hurricane Sandy approached the US economic and financial center in New York, the US stock market closed for a day, while the futures market with the remaining electronic platform trading was also cold.

As a matter of fact, trading is prudent and market turnover is extremely low.

In this case, ICE futures continued to oscillate, and the December contract closed up 19 points.

According to the news, according to India

The Export Promotion Association (AEPC) data said that India's clothing exports fell below the US $1 billion mark, thanks to the appreciation of the rupee in August.

In August, India's clothing exports were 55 billion rupees (US $989 million). According to the India rupee, it increased by 13.9% compared with last year, or 7.2% in the US dollar.

On the international market, on the 29 day, the price of imported cotton in China was generally lower than that of most other varieties. Most varieties were under 0.10-0.30 cents, Australia cotton prices rose 0.5 cents, and India cotton fell 1.5 cents.

At present, the customs clearance of cotton is still the most popular market concern.

As the end of the year draws near, there are still surplus quotas in hand.

Enterprises are waiting for the opportunity to replenish their inventory. The cotton price difference between home and abroad has widened in recent weeks, and the Customs Tariff clearance has attracted more attention.

The drop in cotton prices is expected to attract textile mills to enter the market.

The domestic market, on the 29 th, despite the domestic concussion of Zheng cotton, the spot price remained unaffected and continued to run smoothly, while the downstream yarn market was still in the doldrums. The prices of all varieties dropped slightly. It is estimated that if the cotton price in the four quarter rises moderately, it must rely on domestic demand to pick up.

In October 29th, the national cotton temporary storage and storage business reached 87560 tons. As of that date, 2012 cotton temporary storage and storage pactions totaled 1631920 tons in 2012, including 421600 tons in the mainland and 1210320 tons in Xinjiang.

Spot quotation, October 29th C/A cotton 87.50 (cents / pound), 14975 yuan / ton (according to sliding tax), Australia cotton 94.10, discount general trade port delivery price 15823 yuan / ton; Uzbekistan cotton 89.60, discount general trade port delivery price 15238 yuan / ton; West Africa cotton 85.10, discount general trade port delivery price 14682 yuan / ton; India cotton 82.10, discount general trade port delivery price 14327 yuan / ton.

The national cotton price index A is 19648 yuan / ton, up 1 yuan, and the B index is 18793 yuan.

Market analysis, the spot market is more stable, as the downstream market of textiles has not improved significantly, cotton enterprises are still focusing on purchasing and storage.

Rumor has it that the country will throw a certain amount of cotton in November or have a weak impact on the market.

The outer disk returned to the 72-70 shock platform, and Zheng cotton fell back to the test support.

On the operation, the early air and single reference will be held on the 60 day moving average.