Domestic Cotton Prices Lower

Recently, the whole country cotton The acquisition is about to be completed, the number of storage and purchase has declined compared with last week, the purchase of national cotton in downstream enterprises has slowed down, the sales volume of state-owned cotton stores has dropped significantly, cotton spot prices have been stable and weak, and futures prices have fallen. Textile industry downstream demand is weak, yarn prices continue to decline slightly. In December 20th, 32 cotton combed yarn prices were quoted at 25620 yuan / ton, down 15 yuan / ton, or 0.06%, down 105 yuan / ton compared with last week, or 0.41%, and polyester staple price 9685 yuan / ton, down 50 yuan / ton compared with last week, or 0.5%, down by 975 yuan / ton compared with last week. The average price of cotton seed purchase in the mainland is 4.29 yuan / kg, which is flat, rising 0.1 yuan / Jin, or 2.4%; the average price of seed cotton purchase in Xinjiang is 4.15 yuan / kg, a decrease of 0.01 yuan / Jin, or 0.2%, an increase of 0.09 yuan / Jin, or 2.2%. The average selling price of the standard grade lint in the mainland was 19432 yuan / ton, down 22 yuan / ton compared with last week, or 0.11%, up 266 yuan / ton compared with last week, or 1.4%; the average price of Xinjiang standard lint sale was 19862 yuan / ton, unchanged from last week, up 376 yuan / ton, or 1.9%. Zhengzhou cotton futures contract settlement price in January was 18750 yuan / ton, down 850 yuan / ton compared with last week, or 4.3%, down 1115 yuan / ton compared with last week, or 5.6%, and the average price of the electronic contract January of the national cotton trading market was 19016 yuan / ton, up 57 yuan / ton compared with last week, or 0.3%, down by 608 yuan / ton, or 3.1%.

The seven day pledge repo rate in the Chinese interbank market rose to 9.9%, hitting the highest level since the 6 month shortage. Basically, according to the latest statistics of the National Bureau of statistics, in November 2013, China Cotton output For 3 billion 772 million meters, the growth rate of the ring was 190 million meters, an increase of 5.3%, a decrease of 158 million meters compared with that of the previous year, a decrease of 4.02%. The sales volume of the national cotton store has declined significantly compared with before, and the domestic cotton price or weak operation is expected to be running.

The Federal Reserve has reduced the quantitative easing monetary policy, and the international commodity futures market has seen a more wait-and-see atmosphere and a slight decline in prices. The high-grade cotton market is more popular, and the spot price of international cotton has risen slightly. In December 20th, New York cotton futures contract settlement price in December was 83.15 cents / pound, down 0.07 cents / pound, or 0.1%, compared with last week. representative Imported cotton The international average cotton price index (M) of China's main port is calculated on the basis of 1% tariffs. The cost of importing the RMB is 14373 yuan / ton, up 59 yuan / ton, or 0.4%, lower than the domestic market 5059 yuan / ton, the price difference narrowed 80 yuan / ton last week. According to the sliding tax, the cost of import is 15355 yuan / ton, up 49 yuan / ton compared with last week, or 0.32% yuan, lower than the domestic market 4077 yuan / ton, the price difference narrowed by 71 yuan / ton last week.

The Federal Open Market Committee meeting raised the US economic forecast next year and announced that it will reduce the size of QE from January next year. In the three quarter of the year, the actual GDP final value of the US quarter was 4.1%, better than the market expected. In the euro area, the euro area Markit composite PMI initial value of 52.1 in December, a three month high. On the basic level, according to the US cotton export report released on December 2013 6-12 by the US Department of agriculture, the net contract volume of Zhou Meiguo cotton exports was 53 thousand and 500 tons, an increase of 36% over the previous week. With the progress of China's acquisition and storage, it is expected that international cotton prices will tend to be relatively stable.