India's export policy unchanged Zheng cotton keep cotton prices remain high

On January 10, Zhengzhou Cotton ** opened lower, followed by a wide range of shocks and closed lower. The main volume of 1109 contracts is reduced, closing the small Yin line.

On Monday, January 10, the Zhengzhou Commodity Exchange (CZCE) cotton **1109 contract opened at RMB 28,450/tonne and closed at RMB 28,405/tonne, which was a decrease of RMB 150/tonne from the settlement price on the 7th day. , 774 hands, holding 244,916 hands.

ICE Cotton fell 7th, but the medium and long-term prices will rise. The stronger dollar has dragged the cotton market. ICE March cotton ** closed down 0.4% to close at $1.4060/lb, the lowest closing price since Dec. 10.

As of January 6th, the inventory of the No. 2 future cotton contract available for delivery by ICE was 113,615 bales, compared with 113,345 bales in the previous trading day.

According to the official from the Alexandria Cotton Exporters Association in Egypt, as of the week of January 8, the Association had fulfilled 526 tons of export contracts for all grades of cotton.

A senior Indian personage stated on Friday that India maintains its annual cotton export quota for the current market unchanged at 5.5 million bales.

According to preliminary estimates by China Textile Industry Association, the output value of enterprises above designated size in China's textile industry will exceed 4 trillion yuan in 2010. Surviving in a complex market environment, industrial transfer has become an important means of controlling costs.

From the Xinjiang Production and Construction Corps Development and Reform Working Conference, it was learned that in 2011 the XPCC planned to grow 7.6 million mu of cotton, with a total output of 1.15 million tons.

Analysts believe that with the release of 2.6 million tons of quotas and the release of India’s export of 5.5 million bales (about 93.5 million tons) of cotton, this year’s dramatic reduction in global cotton is bound to affect the cotton supply for the entire cotton season, after the holiday’s corporate funds. With pressure relief, January cotton prices will remain high.