I. Future of Zheng Mian and Zheng Mian
Cotton contracts traded in Zhengzhou Commodity Exchange are commonly known as "Zheng Mian" and "Liandou", while Shanghai copper-aluminum contracts are called "Shanghai copper" and "Shanghai aluminum". Cotton futures refers to the futures trading varieties with cotton as the target, which is an agricultural product futures contract listed and traded on Zhengzhou Commodity Exchange. So it is called Zheng Mian Futures.
Second, the reasons for changes in cotton futures prices
Pre-inventory 1, a is an important part of total supply. Pre-inventory shows that pre-supply is tight. If the supply is insufficient, the price will rise, and if the supply is sufficient, the price will fall.
2. Current output. After fully studying the changes of cotton planting area, climate and growth conditions, production costs, national agricultural policies and other factors, the current output is reasonably predicted.
3. Import volume. The actual import volume often changes for political or economic reasons. Therefore, we must understand and master the changes in the international situation, price level, import policy and import volume as soon as possible.
In addition, the general factors affecting the supply are production capacity, the total number of manufacturers, the relative production cost of substitutes, social customs and habits, and national macro policies.
At present, textile futures return to the king today, Zheng Mian reappears the daily limit, while cotton yarn and polyester short futures also rise one after another. After the previous downward adjustment, cotton and cotton yarn futures reappeared the rising market. Affected by the sharp rebound in the external market and the rebound in the purchase price of new cotton in China, the bullish sentiment in the domestic cotton futures market has rebounded. Today, Zheng Mian's main contract quickly broke through the 22,000 mark and closed at the daily limit, hitting a new high of nearly 10 years. Cotton yarn and polyester staple fiber futures daily limit, Zheng Mian's main contract rose by 8%, capped the daily limit and closed at 22,855 yuan/ton; The main contract of cotton yarn is up to 305 10 yuan, and the closing price is 30,460 yuan/ton; Polyester staple fiber futures daily limit of 8528 yuan, closing price of 8458 yuan/ton.