International Cotton: Cotton Rose &Nbsp; India'S New Flower Purchase Volume Decreased By 25% Over The Same Period.

On the 28 day, the ICE cotton main contract opened slightly earlier in the morning. After reaching the technical limit, it hit a daily limit, and some of the stock prices rose sharply. The spot price of Cotlook cotton rose steadily, and the difficulty of contract performance remained the focus of the market.

I. ICE

28, although the auction of Italy's long-term treasury bonds triggered market concerns, the US index rose and the US stocks went down as a whole, but ICE cotton was in the market.

The market opened slightly higher on the day, and the main force's 1203 month contract narrowed around 89 cents / pound. After the technology buying came in, the contract was uplink to a daily limit (91.91 cents / pound), and when the end of the session was bought, profits were recovered and some of the gains rose.

On the same day, the external market was mixed, corn machine wheat futures rose, soybean and crude oil futures went down.

Analysts pointed out that the euro fell to a 11 month low yesterday, bringing the focus of the market back to the plight of the European financial system.

Although cotton futures are rising under the support of technology buying, it is difficult to continue to rise because of the negative economic level and the sustained consumption level.

Two, spot review

On the 28 day, the CotlookA index was 93.15 cents / pound, up 25 points.

Imported cotton price index (FCIndex) SM level 104.92 points / pound, up 52 points; M class 100.82 cents / pound, up 53 points; SLM class 100.28 cents / pound, 72 points.

The spot quotation of upland cotton rose steadily, and Pima cotton remained stable.

Except for a small number of pactions in India cotton and Pakistan low grade cotton (Type1467 and below grade), market pactions are generally light.

Japan signed thousands of new flowers last week, but no new deal was made in Taiwan, China.

The difficulty of contract performance remains the focus of attention.

Three. Dynamics of countries

According to statistics from India state owned Cotton Corp (CCI), India last week bought about 1 million 120 thousand packs (190 thousand tons) of lint cotton for seed cotton purchase. By December 25th, the country acquired a total of 8 million 810 thousand packages (1 million 498 thousand tons) of new flowers, down about 25% from the same period last year.

Pakistan's domestic market is bullish because it is expected that TCP will buy new flowers.

According to Dow Jones reports, Brazil finance minister GuidoMantega said on Tuesday that in response to the unfair competition from cheap textiles abroad, Brazil is about to change its taxation system on imported textiles, that is, the levying of ad valorem taxes from the current implementation to tax.

According to statistics from the Egyptian Exporters Association, Egypt has registered 25 thousand tons of long staple cotton this year, including 16 thousand tonnes of 86, 9026 tons of Ji 88 and 10 tonnes of 70, and 217 tons of "export oriented" cotton.