2016 What Is The Core And The Biggest Bright Spot Of The National Cotton Reserves?

In April 25th, the national development and Reform Commission and the Ministry of Finance jointly issued the "state".

Announcements of arrangements (Ninth 2016), the whole country

Trading market, China cotton reserve management corporation, China

According to the announcement, the Inspection Bureau separately formulated the "2015/2016 annual national reserve cotton rotation paction method", "the implementation rules of the national reserve cotton export warehouse in 2015/2016" and the implementation measures of the national cotton reserve wheel in the year of 2015/2016.

This year, there are different ways of dealing with cotton reserves, the rules of public inspection and the way out of stock. Compared with the previous years, what are the concerns of the participating companies?

Round out paction time

The round out paction time is the national statutory working day from May 3, 2016 to August 31, 2016.

The specific paction time is divided into 1 sections in the morning and afternoon, that is, the morning trading Festival starts at 10:00, the 1 minute countdown begins at 10:30, the time starts 30 seconds countdown, until the closed market; the afternoon trading starts from the beginning, then the 1 minute countdown starts, and the countdown begins 30 seconds until the closed market.

If the morning trading Festival does not end until 3:00 p.m., the afternoon trading festival begins at the end of the morning trading Festival.

Transaction qualification

The buyer who participates in the reserve cotton rotation paction is a legal person registered by the State Administration for Industry and commerce. Its credit standing is in good condition and there is no record of bad business.

The buyer who participates in the round out paction should be registered as a trading market dealer.

Transaction mode

The reserve cotton is sold through auction.

The buyer raises his own price on the basis of the selling price, and the minimum increase is 20 yuan per ton per time.

Round out price

The sale base price of standard grade (3128B) reserve cotton is calculated and determined by the relevant departments of the state. The selling base price of the non-standard grade reserve cotton is determined by the market according to the quality difference table published by the China Cotton Association.

Trading information disclosure

The notarized inspection data of the listed cotton reserves can be released in time by the China Fiber Inspection Bureau (hereinafter referred to as the "China Bureau of textile industry"), the central storage cotton General Corporation and the trading market website.

The trading market will publish the reserve cotton data to be listed for trading 1 days before the date of listing.

Margin

The buyer who takes part in the reserve cotton rotation paction shall deposit a deposit of not less than 300 thousand yuan before the paction in the designated account of the trading market.

After the paction, the trading market withdraws the margin from the buyer's predeposit margin according to the number of pactions according to the standard of 1000 yuan / ton as the performance bond.

During the paction, the buyer will suspend the paction if the margin is insufficient.

Sign a contract

The buyer shall sign the contract for the purchase and sale of the national cotton reserves within 3 working days after the paction, and will remit the paction amount to the reserve cotton settlement account of the China general store company within 5 working days after the paction, otherwise, it shall be regarded as the buyer's breach of contract.

Public inspection index

The weight, color level, mill quality, length, micron value, fracture strength and length uniformity index of domestic cotton inspection were determined; the color grade, mill quality, length, micron value, fracture strength and length uniformity index of imported cotton were tested.

Mode of public inspection

The domestic cotton produced in this year is subject to 100% public inspection (quality index package inspection, weight index batch inspection). The difference between quality and weight is sold within the allowable range according to the re notarized inspection results.

The quality inspection of imported cotton is in accordance with the 10% sampling inspection, and the weight is sold according to the net weight of imported goods.

Review requirements

The imported cotton, which is notarized in 2014/2015, can be re examined for color grade, mill quality, length and micron value. The imported cotton that is notarized in 2015/2016 can be re examined for color grade, mill quality, length, micron value, fracture strength and length uniformity index. The notarized inspection cotton made in 2015/2016 can be reexamined for the weight, color level, mill quality, length, micron value, fracture strength and length uniformity index.

Quantity, structure and storehouse of cotton reserves

The total output of this year is temporarily suspended by 2 million tons, and the reserve cotton is the 2011-2012 reserve cotton and 2013 cotton reserves in the year.

The layout and storage of reserve cotton should be arranged according to the principle of "first in first out".

If we look closely at the detailed rules issued by the three sector, we will find many bright spots.

In order to digest the state reserve cotton inventory in an orderly way, the reserve scale will be adjusted to a reasonable level. This year, the reserve cotton rotation not only improved the operation mode, but also improved the efficiency of reserve control.

Compared with previous rounds, the biggest highlight of this year's round is the bottom price and the public inspection standard.

In 2016, the sale price of the national reserve cotton (discount standard grade 3128) will be adjusted once a week based on the domestic and international cotton prices. The formula is as follows: the average value of cotton spot price index in the domestic market last week, the weighted 50%+, the average price of the spot price index in the international market last week, the weighted average 50%.

The selling base price of non standard grade reserve cotton is calculated according to the quality difference table published by China Cotton Association.

In previous years, the basic price of the country was based on the market market at that time, and the fixed price would be used during the whole period.

The advantage of doing so this year is that the downstream enterprises can easily auction the right price lint and enhance the enthusiasm of the bidding enterprises.

Besides the price, the way of public inspection is also a highlight.

This year, the rules for the implementation of the national reserve cotton outgoing warehouse stipulate that the domestic cotton produced in this year will be subject to 100% public inspection (quality index package inspection and batch inspection of weight index). The difference between quality and weight will be sold in accordance with the re notarized inspection results within the allowable range.

The quality inspection of imported cotton is in accordance with the 10% sampling inspection, and the weight is sold according to the net weight of imported goods.

In previous years, both domestic cotton and imported cotton were sampled according to a certain proportion.

In addition, compared with previous years, domestic cotton only checked the quality and color level of the rolling mill, and imported cotton only tested the quality of the rolling mill, the color level, the length and the micron value.

The domestic cotton inspection indexes include the weight, color, mill quality, length, micron value, fracture strength and length uniformity index. The imported cotton inspection indexes include color level, mill quality, length, micron value, fracture strength and length uniformity index.

Of course, compared with previous years, there are still many bright spots in this year's cotton reserve round out rules, and all the highlights are summed up as follows: meeting the needs of cotton enterprises, increasing the participation of enterprises, ensuring the rights and interests of the auction companies, promoting the healthy and healthy development of the industry, and effectively doing the inventory in the state supply side reform.