December 23Rd Cotton Market News Noon Report

I. macro environment:

1, China's Sankei news: China's demand is forcing China to buy grain at a high price.

Recently, the United States has postponed the tax reduction policy for ethanol for a year, which will inevitably lead to a shortage of corn and raise the price of corn.

As one of the world's major grain importers, China will become one of the biggest victims.

It can be predicted that international corn prices will gradually increase under the influence of "China's demand theory". China will again be forced to buy corn at a high price.

2, first financial daily: Peng Sen, deputy director of the NDRC, said the price increase will be controlled at 3.3%, which is still under control.

This figure further confirms that the price increase of our country will be slightly higher than that of 3% this month, put forward by Zhang Ping, director of the NDRC last month.

However, with the implementation of various macro-control measures, the overall level of prices in the coming period is expected to remain basically stable.

3, China Securities Journal - China Securities Network: sources revealed that the central bank recently convened a meeting of major banks to discuss the reform of credit management system.

At the meeting, the central bank said that it was planning to set up a new credit management system, determine the speed of credit delivery according to the speed of economic growth, and the index of capital adequacy ratio will be included in the scope of consideration.

Insiders pointed out that the central bank's recent reform of credit management system is intended to pform the way of credit management from administrative control to the comprehensive use of market-oriented regulation and control measures.

If the measure is implemented, it means that the central bank may no longer set the credit target, but will guide the credit supply according to the capital adequacy ratio, liquidity ratio, dynamic provision rate and loan to loan ratio index of various banks.

Window guidance, differential deposit reserve ratio and directional central bank tickets will be used more frequently.

4, economic reference Daily: at the National Conference on business affairs held in December 22nd, Chen Deming, Minister of Commerce, said that we should combine foreign capital access management with antitrust review of business concentration, merger inspection of foreign capital mergers and acquisitions, and protect domestic industrial safety according to law.

This is the first time that the Ministry of Commerce has written the "protection of domestic industrial safety according to law" into the foreign capital utilization part of the annual work report.

Expert analysis shows that China's absorption of foreign capital has entered a new and more mature stage. In the process of absorbing foreign capital, industrial safety will receive more attention in the future.

Foreign investment will be gradually incorporated into the strategic framework for China's economic restructuring and industrial safety.

5, economic reference Daily: according to the United States "Wall Street journal" local time 21 reported that recently, the London Metal Exchange (LME) copper, aluminum, nickel and zinc and other basic metals more than half of the inventory is held by "mysterious" single dealer.

Similar hoarding also exists in the basic metal futures market.

Analysts believe that in the absence of supervision in the Anglo American countries, hoarding will guide the flow of capital and drive the rise of commodity prices unexplained. In the case of fundamental factors that do not support price increases, the hoarding of the hoarding sellers will surely reappear the sharp decline of international oil prices in 2008.

6, the Wall Street Journal: the US stock market closed a new high for two years on Wednesday, leading to the continued rise of financial stocks that were lifted by recent M & A activities. Meanwhile, the latest release of a number of economic data shows that the US economy is still recovering and reinvigorate investor confidence.

Crude oil futures clearing price broke $90 a barrel on Wednesday, the decline of crude oil supply and the improvement of economic situation pushed oil prices to the highest level in more than two years.

China's stock market closed lower on Wednesday because of fears that China will tighten its lending further, resulting in profit taking for banks and real estate developers.

Gold futures on the New York Mercantile Exchange (COMEX) closed slightly down on Wednesday (December 22nd), and gold prices remained narrow in most trading hours.

Analysts pointed out that because most traders stopped trading before the end of the year, the market was slack.

Two, cotton spinning information:

1, China Cotton Association: 11 monthly report on China's cotton imports.

In November, international cotton prices fell sharply.

In the first ten days, the depreciation of the US dollar pushed the international cotton prices to continue to rise rapidly, and even reached a record high.

However, in late and middle ten days, China issued intensive control policies to stabilize prices, domestic cotton prices fell rapidly, and international cotton prices continued to decline, and rebounded to the end of the month.

Cotton in China this month

2, global cotton online: due to the continuous unfavorable rainfall in India in November, the India Cotton Association (CAI) has recently revised the forecast of India cotton output to 5 million 900 thousand tons this year, down 170 thousand tons from last month, but still far outperformed the latest forecast of 5 million 660 thousand tons of the US Department of agriculture (USDA).

With the gradual increase of new flower listing in India, USDA is likely to further increase this forecast in the coming months.

Since the forecasts of CAI and USDA are far greater than that of the largest domestic cotton producers in India, and the record is highest, the late India government may increase the export limit of 935 thousand tons of cotton.

It is reported that 935 thousand tons of India cotton will eventually be allowed to export.

However, as at December 15th, the actual shipment volume of India cotton was only 510 thousand tons, and the remaining 425 thousand tons needed to be re registered and shipped for export in 2011.

3.

4, yarn price Daily Bulletin: 22, the whole cotton yarn overall market is weak, the price trend is stable and fall, the whole cotton yarn 21s, 32S downstream jet weaving demand is still acceptable.

The price of polyester viscose yarn and polyester cotton yarn has remained stable, but the turnover is rather light.

The price of human cotton yarn is still declining.

Pure polyester yarn market is weak, and price trend has not changed much.

The price of polyester staple fiber market is stable. At present, the average price of polyester staple fiber market is 12200 yuan /T.

Viscose staple is temporarily stable.

The market trend of yarn is expected to be adjusted.