Zheng Cotton's Retreat in June 2012

Disk trend: Today Zheng cotton 1301 contract opened at 18,950 yuan / ton, closing at 18,940 yuan / ton, compared with the previous trading day fell 105 yuan / ton, a decrease of 0.55%; volume fell to 281,800 hands, increased positions by 9,684 hands To 272,600 hands.

1. According to data from the General Administration of Customs of the People's Republic of China, in May 2012, China's textile and apparel export amounted to US$ 21.834 billion, a year-on-year increase of 16.14%, and an increase of 7.36% year-on-year. Among them, exports of textiles (including textile yarns, fabrics, and products) were US$9.227 billion, up by 7.06% year-on-year; exports of clothing (including clothing and clothing accessories) were US$12.607 billion, up 7.58% year-on-year.

On the 2nd and 8th, China's imported cotton prices continued to rise, with US cotton, Indian cotton and Brazilian cotton rising by 4 cents and other varieties up by 2 cents. From the market situation, spot transactions remained tepid, and the main driving force behind the rise in cotton prices was the announcement of a rate cut by the People's Bank of China, indicating that the government must maintain the urgent need for economic growth. If there is a global economic stimulus plan to follow up, then the market may continue to rise.

In terms of spot, the price of the cotton index 328 was 18,421 yuan per ton, down 46 yuan from the previous trading day.

Warehouse inventory: There are 3072 registered warehouse receipts, 13 fewer than the previous trading day, and the effective forecast is 217. (Each piece corresponds to 40 tons of cotton).

Summary of views: ICE cotton futures are mixed, and investors are seeking to cover short positions and clear positions before the July cotton futures settled. The market is concerned about the USDA monthly supply and demand report on Tuesday. The good news of the euro zone's rescue of the Spanish banking industry gradually dissipated, and risk aversion suppressed the commodity market. The spot price of domestic cotton fell slightly, and the difference between cotton prices inside and outside the country remained high. The pressure on cotton companies was relatively high and the quotation was generally lowered. Textile enterprises have a high inventory of gauze. As demand for downstream cotton yarns and grey fabrics remains weak, textile companies are slow to go to inventory, insisting on low stocks of raw materials and buying them for use. Zheng Cotton 1301 contract fell slightly, the price is finishing below the 19,000 mark, is expected to show a short-term shocks in the short-term trend. Operation, 18600-19000 interval trading.