Japan's nuclear crisis spread panic in the continuing decline of cotton Cheng

International level, ICE Cotton 15 for the second consecutive day to close at limit down, people in Japan caused the nuclear crisis on the global economy worries about the impact of suppression of cotton prices. ICE5 month contract closed at 7 cents cotton daily limit to settle at $ 1.9094 per pound.

    Chi Fang Huiling on futures analyst, said outer disk continues to limit, for fear of the Japanese nuclear disaster may affect the global economy, market risk aversion remains strong. While the domestic spot prices began to decline in general, will enhance the cotton to sell, and textile companies 
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Procurement of active, stock market weakness also makes pressure on prices. Zheng broke the disk under the 29,000 line of cotton, not just short-term decline, concern the support of 28,000 first-line situation.

    According to customs statistics, in February 2011 China's import of cotton (28 675, -495.00, -1.70%) 18.4 million tons, 207,000 tons less than in January, a decrease of 53%; 16.7% compared with same period last year; the average import prices continued to rise for the first time more than 3,000 U.S.

Yuan / ton, to $ 3,011 / ton, up $ 179 in January, or 6.3%. U.S. cotton accounted for more than one Liucheng.

    National Bureau of Statistics data show that in February 2011, the Chinese yarn production was 1,889,000 tons, an increase of 321,400 tons, an increase of 20.5%; ring than to reduce 161,000 tons, a decrease of 7.85%. September 2010 -2011 in February, the Chinese yarn production

Cumulative amount of 13.771 million tons, an increase of 1,318,800 tons, an increase of 10.59%.
   & Nbsp15 generally start at around the spot price down, but the mill is still reluctant to purchase, it is very deserted spot transactions, according to resident feedback Shandong Weiqiao information workers cut its three textile lint purchase price from 500 to 29,500 yuan / ton; until now

Quoted goods firm's offer began to decline in Xinjiang today. Downstream yarn, fabric prices are adjusted downward, sales flat, purchase of raw materials for textile industry a greater impact. 15, cotton prices in China refers to (CCIndex328) 30995 yuan / ton, down

103 yuan, compared with Zheng cotton contracts in recent months, higher than 1335 yuan in May / ton.

   & Nbsp15 at China imported cotton price index (FCIndexM) to 227.26 cents / pound, down 5.47 cents to the cost of imports by 1% tariff price of 37,857 yuan / ton, according to tax price of 38,128 yuan sliding / ton. Currently 1% of the cost of imports over the domestic tariff grid spot 
Index (CCIndex328) higher than 6862 yuan / ton. Frequent fluctuations in international cotton prices have a certain impact on the spot market, the recent abolition of the early part of the textile industry orders for U.S. cotton, cotton industry was reflected in recent sales is not enough to power more concentrated in the next quarter of inquiry

Degrees. As the current international cotton prices are still significantly higher than the domestic cotton price, sales of imported cotton is facing resistance.