New Cotton Standard Issued A New Trade Settlement System

Since P entered into October, the a href= "http://www.91se91.com/news/index_c.asp" > cotton > /a > processing enterprises entered the processing and selling peak season, and more and more new cotton entered the market.

The Zhengzhou Mercantile Exchange also issued a cotton futures contract in November 2013 based on the new standard in December 24th.

The new cotton trade settlement system brought about by the new standard has also been concerned by cotton enterprises.

It is understood that many cotton enterprises through telephone, micro-blog message and other ways to consult the China Cotton Association.

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< p > this kind of concern is more experiential.

Since the implementation of the new standard is in September 1st next year, the cotton trade settlement is still based on the grade in the original standard.

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< p > the new standard will abolish the grade examination carried out for 40 years, and carry out a brand-new cotton color grading test, which is an important influence on China's cotton industry, which is the change of domestic cotton trade settlement rules.

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< p > the new standard does not directly stipulate the settlement of < a href= "http://www.91se91.com/news/index_cj.asp" > trade > /a >. Why does it have a profound impact on cotton trade? Xiong Zongwei, deputy director of the cotton inspection and Management Bureau of China Fiber Inspection Bureau, broke the phrase: the core of the standard is quality evaluation, and quality is an important basis for cotton trade settlement.

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< p > the new national standard of fine cotton has two items, namely "first parts of cotton: sawtooth processed fine cotton" and "cotton second parts: leather roller processing fine pile cotton", of which the roller processing fine staple cotton still maintains the grade index system.

But the industry mentioned that the biggest change of the cotton standard revision is to replace the grade with color grade, mainly because the sawtooth processing fine staple cotton accounts for more than 99% of the cotton processing volume in China.

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< p > according to the introduction, before the implementation of the new standard, the main influence on the domestic cotton trade settlement is the grade, length, micron value, public regain moisture content and impurity rate in the original standard, which is the 40 year domestic cotton trade price index.

Industry experts research shows that in the domestic cotton trade pricing index system under the background of the original standard, the grade indicators occupy a larger weight.

After the implementation of the new standard, the domestic cotton trade price index is the new standard of color level, micron value, length, fracture strength, length uniformity, rolling quality and foreign fiber index, which has increased by 3 indicators than the original standard, and the weight of each index in the pricing system will also vary with market demand.

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< p > the original standard is divided into 1~7 total of 7 grades, the standard level is three, from the three level up and down each level up, the price will have corresponding floating up or down about 3%, this is the grade difference rate.

According to the shade and yellow depth of cotton, the new standard is divided into four types: white cotton, light spotted cotton, light yellow cotton and yellow cotton. According to the degree of cotton brightness, the white cotton is divided into 5 grades, 3 grades of spotted cotton, 3 grades of light yellow cotton, 2 grades of Huang Ranmian, 13 color grades, and white cotton three grade is the standard grade.

Due to the change of quality evaluation system, there is no corresponding relationship between grade and color level, and a new price relationship based on quality indicators needs to be established. Therefore, the new trade settlement system comes into being with the new standard.

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< p > reporter learned from the China Cotton Association that in November 21st, the Association issued the domestic cotton trade rules that are compatible with the new standards, namely cotton sales contracts and general provisions (applicable to domestic cotton trade), or referred to as "Sino Cotton Association - domestic cotton clauses".

From the table of quality difference price of sawtooth processed fine wool cotton, the price of white cotton two and white cotton is 300 yuan and 600 yuan respectively than that of white cotton grade three, while the price of white cotton four and white cotton five is 500 yuan and 1000 yuan respectively than that of white cotton three grade.

The new standard divides the types and grades of cotton, so there are both types of price difference and grade difference. The difference of color level is more complicated than the original one.

In addition to the color level, the impact of the new standards on other trade knot indices, namely, the micron value, the length, the breaking strength, the length uniformity, the mill quality and the foreign fiber on the cotton price, is also greater than that of the original standard except the grade, the length, the Ma Kelong value, the fixed regain and the impurity rate.

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< p > this change is generalized into the new standard by < a href= "http://www.91se91.com/pioneer/" > Xiong Zongwei < /a >, paying more attention to the internal quality, while the original standard pays more attention to appearance.

Because the grade in the original standard is artificial sensory judgment, and the new standard color level is rated by the instrument, and the impact of the yarn quality on the yarn quality is greater than that of the fracture strength and length uniformity index. Therefore, the new standard is more internal and closer to the textile demand.

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< p > cotton trade rules in China are led by the China Cotton Association, and the expert group on cotton pricing and settlement under the new standard is made up of the relevant government administration departments, financial institutions, trade associations, textile circulation enterprises, the national cotton trading market, the Zhengzhou commodity exchange and the new standard organization, the China Fiber Inspection Bureau.

The new pricing system not only takes into account the domestic market approach, but also draws lessons from the international advanced pricing method, which is in line with the international practice.

The main contents of the cotton sales contract and general clauses include standard contracts and general clauses. In general terms, the quality difference is the core of the rules. The former quoted "quality difference price list of sawtooth processing fine staple cotton" is one of the 3 annals reflecting the price difference of quality.

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