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Technology Is Much More.

2011/7/7 15:01:00 43

Main points

1. Price Bulletin: Domestic

lint

129 level 26602 (-146) yuan / ton; 229 level 25416 (-160) yuan / ton; 328 level 23399 (-165) yuan / ton; 428 22191 (-172) yuan / ton.

Domestic textiles: polyester staple fiber 12500 (+0) yuan / ton; viscose staple fiber 18700 (-100) yuan / ton; C32S price 30850 (-50) yuan / ton; international cotton price M index 162.7 (-2.46) cents / pound.

2. price structure: the base CNCottonB-CF1109 is -336 (-270) yuan / ton; the difference between inside and outside cotton price is CCindex328-FCindexM -3417 (+442) yuan / ton; the difference between yarn and cotton price C32S-CottonB is 7451 (+115) yuan / ton; the difference between cotton and polyester is 10899 (-165) yuan / ton; the price difference between Zheng and cotton is 890 (-210) yuan / ton.

3. domestic stock: on the 6 day, a large textile enterprise sharply lowered the purchase price of lint, which once again struck a blow to market confidence, especially the low-grade cotton market.

At present, the market is weak in the off-season, and the capital chain is tight. Cotton producers are unable to quote. Under multiple pressures, spot trading is approaching winter.

On the downstream side, the weakness of the yarn market will not be changed.

Order

Still not much, lack of production power and big factory holiday.

4. International Spot: at present, the cotton market is in a dilemma. On the one hand, cotton demand is seriously frustrated; on the other hand, the output of new cotton in the United States is expected to be confusing.

5. the central bank raised interest rates: the people's Bank of China decided to raise the benchmark interest rate for Renminbi deposits and loans of financial institutions since July 7, 2011.

The benchmark interest rates for the one-year lending and lending rates of financial institutions were increased by 0.25 percentage points respectively, and the other benchmark rates of interest rates for deposits and loans and individual housing provident fund loan rates were adjusted accordingly.

6. ICE Futures: July 6th,

ICE futures

After opening, the price was 115-117 cents, but after the announcement of China's rate hike, cotton prices plummeted and hit a new low since the beginning of February.

At present, the market bearish atmosphere is thicker. If the December contract falls below 113 cents, the drop space will be opened.

Summary

At present, the improvement of small and medium-sized textile enterprises is a long way to go.

In order to solve the problem of capital turnover, the "destock" process will continue to suppress the prices of related finished products; the demand for replenishment will not be concentrated due to capital bottlenecks and weak expectations.

Yesterday, Zheng cotton 1201 contract fell again, the 22155 platform rebounded after being supported, and a large volume of additional positions went up, showing a strong technical performance.

But considering that the fundamentals do not support a sharp rebound in the long term, we need to be more cautious in terms of technology.