Weekly Report: Slow Pace of Reserve Cotton Purchase; Rising Prices Home and Abroad

Source:China Cotton Association  Date: 18/December/2019

1. Less than 30% transaction rate weekly for reserve cotton purchase

During the second week (9th-13th Dec.)since the reserve cotton purchase, only 9,400 tons of cotton was bought with transaction rate of 26.86%, 40.23% less than last week, the lowest price is 13,166 Yuan/ton, and the highest is 13,316 Yuan/ton. The highest transaction day was in 11th Dec. at 40%, and the lowest was in 13th at 6.29%.

By 13th Dec, reserve cotton purchased had accumulated to 32,900 tons, at transaction rate of 46. 97%. Based on the purchase price limit, the buying price limit was 13,425 Yuan/ton for 3128B Xinjiang cotton during the third week from 16th to 20th Dec, 109 Yuan more than last week.

2. Price increase for international and domestic cotton

Last week (9th-13th Dec.), China and U.S.had agreed on the first stage of the economic and trade agreement, both domestic and international cotton price increased. CC Index(3128B) had weekly average price of 13,100 Yuan/ton, 53 Yuan more over the week; Cotlook A weekly average price is 75.46 cent/lb., 1.41 cent more than last week. Import cotton under 1% tariff is 13,042 Yuan/ton, 58 Yuan less than CC Index(3128B); import cotton under sliding duty is 14,356 Yuan/ton, 1,256 Yuan higher than domestic equivalent. FC Index M weekly average price is 76.79 cent/lb., 1,96 cent up. ZCE major cotton contract CF005 weekly average price is 13,268 Yuan/ton, 212 Yuan up. ICE cotton nearby futures weekly price is 66.23 cent/lb., 1.42 cent up.

3. Xinjiang cotton processed faster than corresponding time last year

By 15th Dec., Xinjiang cotton had processed by 4.19 million tons, 1.9% more than that of last year, and 0.2% higher than last week.

 

 

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China Cotton Index (CC Index)
2021-12-1       more>>
  • CCindex (3128B) : 22242 -302
  • CCindex (2227B) : 20854 -254
  • CCindex (2129B) : 22854 -251
Foreign Cotton Index (FC Index)
2021-12-1      more>>
  • FC index S: 123.80 -4.53
  • FC index M: 122.36 -4.46
  • FC index L: 120.78 -4.44
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