Last week (September 9-13), China and the United States showed signs of easing, market confidence boosted, Zheng cotton stabilized after the rebound, spot trading became warmer, and the volume of round-off transactions increased. Cotton yarn sales showed a steady increase in price, and the mills with less inventory and low capital pressure had tentative price increases. The new cotton picking was gradually unfolded, and the acquisition of cotton enterprises was sprinkled with sporadic scales. The overall opening time was postponed, the number of acquisitions was relatively reduced, and the market sentiment was cautious. Cotton price CNCttonB index price of 12,976 yuan / ton, compared with Zheng cotton futures CF1909 contract, spot premium of 676 yuan / ton.

Futures. The news frequency blows the warm air, the warehouse receipts continue to flow out, there is no new registration forecast for 2 consecutive weeks, the firm pressure is reduced, Zheng cotton rebounds and stabilizes, Zheng cotton main CF2001 contract closed at 12,970 yuan / ton on Friday, rising 45 yuan / ton, continue to face the technical 40-day moving average pressure, the flow of funds out of sight, transactions, positions decreased. On Thursday, US cotton rose sharply. Zheng cotton was closed for the Mid-Autumn Festival holiday. It is expected to rise on Monday, but the new cotton has been listed sporadically. There is still uncertainty in the increase in real consumption. The price of polyester and viscose is down, and Zhengmian is still under pressure. Continue to pay attention to the progress of Sino-US trade negotiations and the weather in the cotton region. US market: ICE's main contract rose last Thursday, and fell back on Friday. The December contract closed at 62.28 cents/lb, up 385 points per week. If there is no further good news, this week may face a correction.

Spot. The trade war has eased news, market confidence has been boosted, procurement has rebounded, and the daily shipments of major warehouses in the mainland have increased slightly. After the futures prices have risen, fixed-price resources have not been raised or the adjustments are significantly smaller than futures. The transaction was good. The price of the resources is very low due to the fact that the futures have not fallen. The price of Xinjiang cotton resources in the mainland is generally concentrated at 12,900-13,300 yuan / ton, the price of customs clearance in India is 12,500-13,300 yuan / ton, relatively low, West Africa, Brazil quoted at 13,000-13,500 yuan / ton, Australian cotton quoted at 15,000 - 15500 yuan / ton, the price has no advantage, the transaction is scarce.

New cotton acquisition. Domestically sporadic acquisitions, the price of new cotton is mostly 2.5-2.9 yuan / kg, and the early cotton harvested now has a short length and a high horse value. The processing plants are all trial acquisitions. After the cotton enterprises experienced losses in the previous year, some processing enterprises have withdrawn from the acquisition. This year's acquisitions have been relatively reduced. In the face of the current lint sales market, processing companies are very cautious.

Operational recommendations. The Sino-US trade talks have restarted, and market confidence has recovered. In 2019, the reserve cotton round will be closed in two weeks, and we will continue to pay attention to the weather in the cotton area and the progress of the Sino-US negotiations.

Fujian Jinquan Chemical Fiber Products Co., Ltd. adheres to the spirit of Jinjiang people's love to fight, and specializes in producing: pp yarn, polypropylene recycled yarn, polypropylene hollow yarn, pp yarn, polypropylene light body yarn, polypropylene yarn, pp yarn, etc. Customized samples to fully meet the individual needs of customers.