The ban can only temporarily boost the futures market.
India's ban temporarily boosted the futures market, as the demand for printed cotton in the domestic cotton market declined. This year, considering the balance between cotton supply and demand, the state cancelled the quota allocation of some cotton textile enterprises, and the number of import quotas also decreased accordingly. In addition, American cotton can replace printed cotton.
According to the CSI Futures Research Report, the price of seed cotton has risen slightly at present, while the export orders of most enterprises such as textiles, garments and home textiles are insufficient, and domestic small and medium-sized textile enterprises cut prices to digest their stocks. The relevant person in charge of a large state-owned textile enterprise in China told the reporter that the rising cost of downstream enterprises is stimulated by many factors, and the cotton import quota also affects the cost of downstream enterprises.
Short-term needs to hold the idea of weak shock
Yesterday, after the domestic futures market closed, Indian media reported that the Indian Minister of Agriculture called for lifting the ban on cotton export. This news may have obvious performance on today's disk.
Technically, Wang Guosheng analyzed that Zheng Mian's main force 1209 fluctuated at a high level, and the K-line combination stepped into the triangle consolidation area, and the pressure of 60-minute callback was high. Investors are advised to hold the idea of weak shocks in the short term, and the intraday operation is mainly based on rallies, but the space below is limited and short-term operation is needed.