Epidemic Dragged Down Market Confidence, Cotton Spot Downturn Downturn Stability

Last weekend, two outbreaks of the Beijing epidemic began, and the conflict between China and India, which was a drag on market confidence. Zheng cotton futures have maintained a range of shocks this week after returning to the downtrend last weekend. The main CFOO9 is at a minimum of 11685 yuan / ton, and today it is on the rise under the rise of US stocks and US oil. But the overall direction is still unclear. Affected by this, domestic cotton spot slipped mainly this week, with a larger decline on Monday, slowing down yesterday and basically maintaining stability today. China's cotton price index (CC Index3128B) was 11950 yuan / ton, unchanged from yesterday, down 133 yuan / ton compared with last Friday.

According to the survey of quotation enterprises, the cotton spot price volume is the largest on Monday, reaching more than 2 times that of last week, and returned to normal on Tuesday. Today, most enterprises except wait-and-see rice are waiting and watching. In the concussion market, enterprises are calm in purchasing rhythm.

In order to control the epidemic situation, Beijing has strengthened all aspects of control and led to speculation. 2020 is destined to be an extraordinary year. But looking back on history, big changes often experience hardships. We must strengthen our confidence and remain vigilant and seek opportunities in crisis.