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ICE Cotton Shortage Is Greater Than Supply During The Shortage Period.

2010/9/27 12:15:00 73

Friday (9.24) ICE Intercontinental Exchange in New York

Cotton futures

The main reason for the rally is that market participants worry that global demand is greater than supply, so they are making more efforts.

October 2010 contract opening price of 97.54 cents, intraday shock interval of 101.56 -97.54 cents, the final closing price of 101.30 cents, up 3.53 cents, turnover 23 hands, the last day settlement 97.77 cents, empty volume 210 hands.

December 2010 contract opening price of 97.17 cents, intraday shock interval of 100.28 -96.53 cents, the final closing price of 99.93 cents, up 2.76 cents, turnover 19992 hands, the last day settlement 97.17 cents, empty volume 143547 hands.

03 month contract 2011

Opening price

96.37 cents, intraday shock interval 99.20- 95.82 cents, the final closing price of 98.75 cents, up 2.37 cents, turnover 4532 hands, the last day settlement 96.38 cents, empty volume 61173 hands.

Yesterday, India announced the plan to ban cotton exports completely, resulting in a sharp fall in the market. Today, due to the shortage of global commodities, the market is once again strong.

Bad weather in Asia has affected cotton picking time. India, the world's second largest cotton producer and exporter, also asked for a delay in its export progress.

In this way, the mills rush to buy the cotton they need, regardless of the high price.

Drought occurred in China, floods occurred in Pakistan, India banned cotton exports, resulting in global

cotton

Shortage.

India is the world's second largest exporter of cotton. Earlier this year, domestic cotton was tight and India restricted cotton exports.

India is expected to resume cotton exports next month, but only 5 million 500 thousand packages, estimated to be 18% of the total output of 29 million 500 thousand packages this year, with a weight of 228 kg per pack.

However, India textile industry with 35 million employees is hoping to extend the export ban and raise the export tax because cotton can not meet domestic demand.

China is the world's largest cotton producer, and the number of imports doubled in the first 8 months of this year as drought affected production.

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The US stock market rose sharply on Friday, and the market continued to rise for the fourth consecutive week. The Dow and the S & P 500 index will have the best performance in more than half a century since September.

Economic data show that US capital expenditure rebounded and investor confidence increased.

During the week, Dow rose 2.4%, the S & P 500 rose 2.1%, and the NASDAQ rose 2.8%.

Today, the Dow Jones industrial average rose 197.38 points to 10859.80 points, or 1.85%, while the Nasdaq composite index rose 54.14 points to 2381.22 points, or 2.33%; the standard & Poor's 500 index rose 23.82 points to 1148.65 points, or 2.12%.

The US House of Representatives fundraising committee has just approved the China exchange rate bill.

According to the bill, if a country's currency is undervalued by the United States, the United States will impose anti-dumping duties on goods imported from that country.

The sponsor of the scheme is Levin, chairman of the fundraising committee (Sander Levin) and some other members. They all believe that China's "RMB is fundamentally undervalued".

Some US legislators believe that if China allows the renminbi to appreciate, US exports will be promoted.

The details of the bill show that it basically paved the way for the US Department of Commerce to use anti-dumping duties to sanction imports from countries that are fundamentally undervalued.

According to the data of the exchange, 16476 cotton bags were certified in September 22nd, 16669 packages were certified in September 23rd, and 1659 bags were required to be certified.

ICE US cotton futures closing September 24th

Contract month