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Recently, The National Cotton Auction Market Continued To Decline.

2010/8/24 14:20:00 69

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To meet the needs of textile cotton, stability

Cotton market

It was decided by the relevant departments that the China reserve cotton Management Corporation (hereinafter referred to as "China Cotton Storage Company") has publicly put 600 thousand tons of state reserve cotton into the market since August 10th.

As of August 20th, the total volume of dumping and storage totaled 131 thousand tons, with an average grade of 3.59, with an average length of 28.34 millimetres, and 21.8% of the total plan. The average paction price was 17842 yuan / ton, and the standard grade cotton price was 18096 yuan / ton, which was lower than the average price of the standard grade cotton in the same period in the same period.

Recently, the national cotton auction market continued to decline.

On the 16-20 th of August, 72 thousand tons of reserves were planned for the week, and 71 thousand tons were traded. The average paction price was 17566 yuan / ton, compared with last week, it fell 620 yuan / ton, or 3.4%, breaking the standard grade cotton price 17865 yuan / ton, down 521 yuan / ton, or 2.8% percent lower than last week.

Since the start of the national cotton auction, the market has gone up and down. Since August 12th, the average selling price has dropped for six consecutive trading days. Textile enterprises have become rational, and the number of participants has decreased from 463 to 231 in the first day of auction.

The central storage cotton company pays close attention to the market changes, grasps the rhythm of throwing and storing rationally, and arranges orderly storage of cotton.

Affected by the continued decline of the reserve market, domestic spot prices have gone up and down, and cotton traders have gone down.

Sale

The enthusiasm is stronger than before, but the textile enterprises still have a wait-and-see attitude towards spot purchases, and the actual pactions remain light.

To sum up, in view of the fact that there are not many days before the listing of new flowers, and with the steady development of reserve cotton sales, the cotton market will remain stable and weak in the new and old annual pition period.

In August 20th, the national cotton price B index, representing the average price of the standard grade cotton in the mainland, was 18135 yuan / ton, which is basically the same as last week.

Zhengzhou cotton futures contract settlement price of 18485 yuan / ton in September, down 200 yuan / ton compared with last week, or 1.1%.

Beijing's national cotton trading market electronic matching pactions in September the average contract price of 18197 yuan / ton, compared with last week rose 228 yuan / ton, or 1.3%; Hefei national cotton trading center electronic matching paction September contract settlement price 17880 yuan / ton, compared with last week fell 80 yuan / ton, or 0.4%.

In addition, cotton growth in recent years, the main domestic cotton production area in recent years, more rainfall, Shandong and Hebei rainfall, a certain impact on the growth of cotton, Cotton Bolls at the bottom of the mold.

The rainfall in the Yangtze River Basin is relatively small, which has no effect on cotton growth.

Cotton bolls have been blot out in some areas, and cotton farmers have begun picking them sporadically.

The stronger US dollar index brings pressure to the commodity market, along with China.

Reserve cotton

Sales steadily, domestic cotton enterprises to buy Cotton interest declined, the international cotton prices fell at a high level.

In August 20th, the ICE cotton futures contract settlement price in October was 87.15 cents / pound, down 0.34 cents / pound compared with last week, or 0.4%, while the December contract settlement price was 83.55 cents / pound, down 0.63 cents / pound, or 0.7%, compared with last week; the international cotton index (M grade), representing the average price of the Chinese main port on the import cotton, was 94.15 cents / pound, down 0.23 cents / pound, or 0.2%.

According to the 1% tariff, the discount price is 16481 yuan / ton (at 6.7884 exchange rate), which is lower than the domestic market 1654 yuan / ton, and the spread is 75 yuan / ton compared with last week. According to the sliding tax, the discount price to the factory price is 16892 yuan / ton, which is lower than the domestic market 1243 yuan / ton, the price difference expanded 75 yuan / ton compared with last week.