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Cotton In Reserve: Domestic And Foreign Cotton Prices Begin To Cool Down

2010/11/17 11:28:00 45

China reserve cotton

The management company issued a briefing on the SASAC website on the morning of November 16th, saying that the price of commodity futures, including cotton, has generally declined in recent years due to the influence of the government's macroeconomic regulation and control policy. A large textile enterprise in China has cut down the purchase price of high-grade lint for the two time, and cotton traders have been reluctant to sell their minds, and the spot market has weakened.

According to the announcement, seed cotton picking in most areas is coming to an end, and seed cotton prices began to drop on Friday.

In November 12th, the average price of the standard grade cotton in the mainland was 31220 yuan / ton, up 8.4% over the previous week; the average purchase price of the 3 grade seed cotton was 6.86 yuan / kg, up 7.4%, the cost of folding cotton was 29827 yuan / ton, up 8.4%; the average price of 3 cotton seed purchase in Xinjiang was 6.80 yuan / kg, up 7.1%, and the cost of folding cotton was 28548 yuan / ton, increasing by 28548.

It is expected that the domestic cotton market will continue to cool down in the near future. Rational return to the atmosphere is expected to increase, and domestic cotton prices will continue to be adjusted.

CB cotton cited the monitoring data of the national cotton market monitoring system, pointing out that in the week ending November 12th,

Cotton sales

About 172 thousand tons, and the gap between the average level in recent three years has further narrowed. It is expected that the latter will enter the stage of large-scale listing.

The company also quoted data from the Xinjiang railway department. Since the beginning of November, the Xinjiang area has increased the loading capacity of cotton, and plans to increase the number of daily pportation of cotton out of Xinjiang to 300, an increase of about 100 from the previous stage.

In addition, the supply of cotton has been increasing and prices have dropped rapidly in recent years.

The announcement also said that China's central bank should tighten credit.

US dollar index

Substantial rebound and other factors, the recent international cotton prices fell, the spot price rise slowed down.

In November 12th, the average price of China's main port of import cotton (M) was 172.05 cents / pound, up 3.4% from the previous week, or 9.5 percentage points from the previous week.

According to the 1% tariff, the discount price is 29076 yuan / ton, which is 2144 yuan lower than the domestic market price, and the price difference is 1634 yuan more than that of the previous week. According to the sliding tax, the discount price is 29362 yuan / ton to the factory price, 1858 yuan lower than the domestic market price per ton, and the price difference expanded by 1642 yuan.