Domestic Cotton Prices Steadily Fell Slightly &Nbsp; Weekly Purchase And Storage Transactions Enlarged

November 2011 21~25, China cotton Buying and selling prices fell steadily, and the volume of temporary storage and storage continued to increase. Cotton prices in the international market fell again, and domestic cotton yarn and polyester staple fiber prices fell slightly.

According to the national cotton market monitoring system, as of November 25th, the national cotton Pick The progress was 96.3%, an increase of 3.2 percentage points compared with that of the previous year, and the seed cotton sale rate was 75.5%, down 3.3 percentage points compared with that of the previous year. Processing rate It was 62.2%, down 5.5 percentage points compared with the same period last year, and the sales rate of new cotton was 29.9%, up 10.6 percentage points over the same period.

This week, the average daily turnover of cotton was nearly 50 thousand tons, of which the volume of cotton in the mainland increased significantly, with a total turnover of 231610 tons, an increase of 19770 tons compared with last week, an increase of 9.3%. As of November 25th, a total of 862030 tons of storage and storage transactions were received this year, including 262230 tons in the mainland and 599800 tons in Xinjiang.

With the continuous enlargement of storage and purchase volume, the price of domestic cotton purchase and sale has basically stopped, and the Xinjiang area has stabilized. In November 25th, the average purchase price of the 3 grade seed cotton in the mainland was 8 yuan / kg (the Chinese cotton purchase price index of 18197 yuan / ton representing the purchase price of lint) was reduced by 0.02 yuan / kg, or 0.2%, compared with last week. The average purchase price of 3 seed cotton in Xinjiang was 8.06 yuan / kg (the price of the cotton seed purchased 18093 yuan / ton), unchanged from last week. The national cotton price B index, which represents the average selling price of lint cotton in the mainland, is 19143 yuan / ton, down 74 yuan / ton compared with last week, or 0.4%, and the average price of Xinjiang standard lint sale is 19637 yuan / ton, unchanged from last week. Zhengzhou cotton futures contract settlement price of 20000 yuan / ton in January, down 25 yuan / ton, or 0.1%, compared with last week; the average price of electronic matching January of the national cotton trading market was 19273 yuan / ton, down 78 yuan / ton, or 0.4%.

The European debt crisis intensified, the market risk aversion was strong, the US dollar was sought after, the pressure on commodity trends, New York cotton futures fell sharply, the contract price fell to 90 cents per month, the spot quotation continued to decline sharply last week. In November 25th, New York cotton futures contract settlement price in December was 90.8 cents / pound, down 4 cents / pound, or 4.2%, compared with last week. The international cotton index (M), which represents the average price of the Chinese main port on the import cotton, is calculated on the basis of 1% tariffs. The import cost of the folded renminbi is 16866 yuan / ton, down 1226 yuan / ton, or 6.8%, compared with last week. According to the sliding tax, the import cost of the folded renminbi is 17273 yuan / ton, down 1214 yuan / ton, or 6.6% lower than last week.

The gauze Market is unsalable, the operating pressure of textile enterprises is not reduced, the operating rate is generally at a low level, and the price of cotton yarn continues to decline slightly. The price of polyester staple fiber continues to decline due to the combined influence of the low price of upstream PTA and the sluggish sales of downstream polyester cotton yarn. In November 25th, 32 cotton combed yarn prices were quoted at 26150 yuan / ton, down 100 yuan / ton last week, or 0.4%, and the polyester staple price was 10800 yuan / ton, down 100 yuan / ton, or 0.9% lower than last week.

Looking ahead, the international cotton market will be weak. France, Germany and Italy did not propose any substantive solutions to the euro area sovereign debt crisis this week. In addition, the S & P lowered Belgium's sovereign credit rating, and the euro fell sharply against the US dollar. In November 25th, the US dollar index rose to a new high of 79.7 in 1 and a half months, and the trend of commodities was suppressed. 35% of Germany's government bonds, which had been regarded as excellent assets, failed to tender in November 23rd. At the same time, economic data frequently reported bad news. In November, the initial value of the Markit comprehensive purchasing managers index (PMI) in the euro area shrank for third consecutive months, while industrial orders reached the largest decline in the past three years. But basically, due to the sharp fall in international cotton prices in the past two weeks, the domestic cotton price has already been nearly two thousand yuan discount, or will attract textile enterprises to purchase. On the whole, in the recent political turmoil in Syria and other countries, the deterioration of the macro environment and the huge spread of cotton prices at home and abroad, the international cotton prices will be aggravated by the weak ones.

Domestic cotton market will stabilize the weak. On the policy side, the domestic monetary policy has been partially relaxed. 6 rural cooperative banks in Zhejiang province have resumed the level of the deposit reserve ratio of 16%, and the amount of bank loans has also eased. Nanjing's five banks have recently reduced the range of the first suite loan interest rate from 10% to 5% of the benchmark interest rate. The China Cotton Reserve Management Corporation issued the notice on guaranteeing the storage capacity and ensuring the open storage and purchase in November 23rd. It once again emphasized that the fixed price should be opened and closed, and the capacity of storage and storage will reach 4 million 100 thousand tons, accounting for 55% of the estimated total cotton output in the whole year. 65 storage and storage points have been opened, and 2 million 700 thousand tons of storage capacity have been put in place, thus stabilizing market confidence. From a fundamental point of view, the textile industry is now in deep winter, cotton demand is difficult to release, and domestic and foreign cotton prices are hanging upside down. The domestic cotton market will continue to be weak. However, under the strong support of the state's support for small and micro enterprises and the policy of purchasing and storage, it is expected that the future price will be limited.