Reserve cotton turnover rose sharply over 80%, the price was U trend
Business agency cotton analyst Sun Kuanghua believes ICE cotton Zheng cotton rose greatly encouraged the cotton market, while the domestic market outlook of high-grade cotton supply lack of confidence, bullish sentiment is strong, while the downstream textile enterprises cotton after adjusting the structure of state reserve cotton estate demand appeared, resulting in reserve cotton turnover rose sharply. At present, the international competitiveness of downstream cotton still exist, and the textile and clothing export data warming, with support of domestic cotton prices. According to statistics, the national cotton business inventories 1 million 872 thousand and 400 tons, down 156 thousand and 100 tons, removal of Xinjiang Xinjiang cotton textile enterprises in mainland consumption, less supply, prices are expected to strong. Overall, the domestic cotton market short-term trend is relatively optimistic, cotton futures market is expected to steady to the good, Zheng cotton 1709 contract in 15500-16500 yuan / ton range concussion.
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