Quick Comment: ICE U.S. Cotton Limited Up, Zheng Cotton Continued to Climb Up With Support
Author: Jan 13, 2011 11:05
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ICE U.S.cotton limited up overnight. Zheng cotton opened sharply high in this early market. The main force, CF1109 broke through the pre-press level, 28,900 for the third time. The exchange amount had a little increase compared with yesterday, had Masukura and ended high. As far as the noon closing, Zheng cotton 1109 contract ended at 29,345 Yuan per ton, rising 580 Yuan per ton and the increase is 2.02%. The exchange is 3,920,000 hands, Masukura 16,496 hands; CF1111 ended 27.385 Yuan per ton, increased 1.92%. Closing at 11:35, ICE U.S. cotton ended 1.5060 dollars, increased 2.28%
According to New York on Jan 11, ICE U.S. Cotton ended limited on Tuesday. USDA (United States Department of Agriculture) announced that speculative buying was found in the previous market. The report of USDA will show that the supply amount of Chinese cotton is decreasing and Australian cotton will reduce because of the flood.
Spot market, Jan 12, the trading volume of the nationwide e-commerce cotton market is 23,420 ton, and the reorder quantity is 83,720 ton. These months, contract MA1101 quoted as 28,300 Yuan per ton, increased 208, the trading volume is 360 ton. The main force, MA1105 contract quoted 28.960 Yuan per ton, increased 365 Yuan, and the trading volume is 8,240 ton. China Cotton Index ( CC Index 328 Level ) of Jan 12, 2011 is 27,689 Yuan per ton which increased 23 Yuan per ton compared with yesterday; CC Index 527 Level is 25,701 Yuan per ton, increased 52 Yuan per ton; CC Index 229 Level is 28,643 Yuan per ton, increased 55 Yuan per ton.
The news, according to the data statistics of China Customs, China imported 0.462 million tons of cotton in December, 2010, increased 0.336 million ton compared with November; increase rate of link relative ratio is up to 266%; increased 0.245 million ton compared with the same period of last year, the increase rate is 113%. China imported 2.839 million tons of cotton among the whole year of 2010, increased 1.312 million ton compared with 2009, and the increase rate of year basis is 86%.
Recently, the capital began to pay its attention on CF1111, which had a more trend than other contracts. Under the situation of continuous calling-back of the Zheng cotton index on Monday, CF1111 contrarily rebounded 0.8%. CF1109 only raised 0.86% yesterday, while CF1111 raised almost 1.41%. Ended yesterday, there was almost 1,800 Yuan per ton difference between the closed price of CF1111 and CF1109. Investors can appropriately buy more on CF1111 and hold for long terms.
ICE U.S. cotton limited up over night, and the electronic monitor is still raising today. Zheng cotton opened high this morning with great support. Technically speaking, the main force CF1109 broke through the pre-pressure level 28,960 for the third time. |
Editor: emma From: 168Tex.com
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