Cotton Purchase And Storage Start Up Has Limited Effect On Spot Cotton Price.

In September 8th, the temporary storage and purchase of cotton was officially launched in September 8th. Affected by this, the cotton futures CF205 of the Zhengzhou Mercantile Exchange rose by more than 500 yuan per ton, and the closing price was close to 22200 yuan per ton.

But analysts pointed out that because of this year

The purchase price of cotton seeds in Shijiazhuang, Hebei has been increased by 0.1-0.2 yuan per catty, stimulated by the news of the purchase and storage.

At present, the demand for cotton downstream market has not yet seen signs of obvious warming, so the spot price of cotton is unlikely to rise substantially.

The purchase and storage will support the formation of the cotton price, and the bottom of the cotton price will be formed. But at present, the stock of the cotton mill is still large, and the inventory product can maintain 30 days' production. Under normal circumstances, it should be on the 15-20 day, indicating that the cotton mill's inventory process in the middle and lower reaches of the cotton has not been completed, which will weaken the cotton mill's demand for cotton.

On the other hand, China's output of new cotton will reach 730-750 tons this year, compared with the output of 660-670 tons last year, the output increase will reach 900 thousand tons.