Sino US Trade Talks Reveal Positive Signals, Cotton Spot Prices Rise
Recently, bilateral trade talks between China and the United States have ended temporarily. Although the official has not yet been officially announced, the negotiations between the two sides have yielded some positive results. During the negotiations, Zheng cotton continued to rise slightly, and cotton spot prices also rose to some extent.
The head of a ginning plant in South Xinjiang indicated that the price rise of Zhengyang cotton has been a boost to cotton spot prices recently. At present, the spot market inquiry and sale are mainly traders, the basic purchasing is mainly, the sales of cotton in Gaosheng water is a little better, the whole can only be said to be limited, and enterprises expect the contract price in May to stand on more than 15500 yuan / ton. Recently, Xinjiang's "double 29" hand picked cotton price is 16000 yuan / ton, the actual transaction price will drop tens of yuan, although there is still some bargaining space, but compared to the previous time, the transaction price has risen by 150 yuan / ton. Northern Xinjiang's "double 29" machine pick up cotton price quoted at 15550-15650 yuan / ton, compared with the beginning of January also rose 50-100 yuan / ton.
The official said that the current trade agreed basis is lower than Zheng cotton's 200 yuan / ton, and the purchase of high water cotton in the non deliverable warehouse in Xinjiang is transported to the inland bank for delivery or arbitrage. The market does not lack such resources at present. For traders, the purchase cost of "double 29" hand picking cotton is 16000 yuan / ton (double 29). As long as the disk price reaches 15200 and above, it can carry out the hedging operation (the difference between the fixed and gross weight is 300 yuan, and the premium part has 1000 yuan / ton), so it is profitable on the basis of Cotton Subsidy. Despite the temporary improvement in cotton sales in Gaosheng water, textile production is gradually stabilizing, but the overall cotton market rebound remains to be seen.
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