On the night of January 17, cotton futures suddenly rose, and funds poured into 400 million.

Some analysts believe that this wave of cotton market is a pure technical breakthrough, cotton has stabilized near the 60-day average for nearly a week. Last night, Zheng cotton broke through the recent fluctuation range along the technical buying, driving Zheng cotton up, more than 15800 hedging pressure worthy of attention.

On January 18, as of 10:16, the overall inflow of commodity futures funds was 428 million.

In terms of the performance of specific varieties, the top three inflows of funds were: cotton (+ 696 million yuan), palm oil (+ 260 million yuan), ethylene glycol (+ 221 million yuan).

Affected by a large inflow of funds, the main cotton contract rose sharply. Superimposed short-term demand improved, pre-festival textile orders increased, the main cotton contract broke through the annual line, up 15,800 points. On January 18, the main cotton contract rose 2.06%, up 320 yuan, to close at 15,890 yuan/ton. An increase of 290 yuan/ton from 15,600 yuan/ton on the first trading day after New Year's Day.

After the production data landed, cotton prices were mainly affected by demand fluctuations, and the downstream start-up increased near the Spring Festival, which supported cotton prices in the short term. Taking into account the positive demand has been reflected, the rise in downstream orders does not have sustainability, this wave of market is still a stage rebound.

In terms of domestic supply and demand, the number of orders of textile enterprises has improved, and the on-load of yarn and grey cloth has increased month-on-month, but the increase has slowed down; Downstream demand is improving, but the duration is short, the Spring Festival holiday is approaching, textile enterprises will still have one to two weeks to shut down, and the price of cotton is limited. The industrial chain from the top down, the upstream gin mill has a large number of lint unsold, cotton commercial inventory increased rapidly, now rising to a historical high in the same period; The midstream textile enterprises and textile factories have replenishment of raw materials and finished products to the warehouse, and the cotton yarn inventory of textile enterprises has decreased more, but most of it has become the downstream inventory, and the overall inventory level of cotton yarn is high.

In any case, Zheng Mian this wave of pull up, gave the market confidence, the post-holiday market, may be a little more optimistic.

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