Zhengzhou Cotton Rose Slightly &Nbsp, Still Low.

Zhengzhou cotton futures closed slightly higher in May 3rd, which was boosted by the rebound of new cotton during the festive season and the stabilization of spot cotton. However, at present, Zheng cotton is still in the low position, and the weak pattern has not yet been fundamentally reversed. Some analysts pointed out that the possibility of Zheng cotton's continued weak shocks in the short term is too large.

On the international side, ICE cotton rose 29 days, but fell in May 2nd. ICE cotton Prices are still rising slightly. The decline of US cotton export sales and the listing of new cotton in the southern hemisphere have led to the pressure on international cotton prices, but the planting rate is lower than in previous years and the global cotton stocks are still tight enough to limit the downward trend of prices. In the weekly crop growth report released by the US Department of agriculture (USDA), the cotton planting rate in the United States reached 18% in the week ending May 1st, compared with 13% in the previous week, 24% in the same period last year, and 24% in the five year period.

Other news, China classics Clothing industry The prosperity index report shows that in the first quarter of 2011, the prosperity index of the clothing industry in China was 99.4 points, down 0.3 points from the previous quarter, and the warning index of the clothing industry was 120 points, down 6.7 points from the previous quarter, down to the "yellow light area" in the cold area. Domestic spot prices continue to fall, and spot quotas have been lowered. Textile mills are still reluctant to purchase, and spot trading is extremely cold. On the 29 day, cotton prices in China (CCIndex328) were 26927 yuan / ton, or 382 yuan, compared with the 522 yuan in May. The prices of downstream yarns and grey fabrics have also been lowered, and sales are flat.

On the 29 day, China's FC Index M index was 182.12 cents / pound, down 3.96 cents / pound, and the import cost was 30314 yuan / ton at 1% customs price, 30660 yuan / ton according to the sliding price. At present, the tariff import cost of 1% is 3387 yuan / ton higher than that of the domestic spot index (CCIndex328). The US cotton export weekly report released on USDA28 showed that the net contract volume continued to be negative in the 21 week of April 15th -4. At the same time, cotton and Brazil cotton are in good harvest. New cotton is going to be listed in large quantities and shipped for export. And the current price is very low, which is a great pressure on the export of American cotton and the international cotton price.

China's cotton trading market has been mixed up in May 3rd. The main MA1105 contract returned to the 26000 pass on the same day, rising 97 yuan a day; the MA1108 contract closed at 26200 yuan, up 85 yuan; the volume of turnover on that day was slightly enlarged.

　　 Zheng cotton The main 1109 contract opened up concussion, closed at 26495 yuan / ton, rose 145 points, increased 11962 positions, and the 1201 month contract rose 115 yuan to 24015 yuan / ton, adding 3112 hands. On the other hand, the price of zhengmian is still at a low level, and the upper moving average system is going down and down, and the technical side is still weak.