Weekly Report: No Deal Done by Reserve Cotton, Price Increase Home and Abroad

Source:China Cotton Association  Date: 25/February/2020

  1. No deal was done by reserve cotton transaction

    The purchase plan of the twelfth week (17th-21st Feb.) was 35,000 tons, however the domestic price of both spot and futures witnessed distinct increase and left no price advantage for reserve transaction, which accomplished no deal during the week.

    By 21st February, around 126,200 tons of reserve cotton was purchased, by transaction rate of 29.56% with top price of 14,197 Yuan/ton and bottom price of 12,879 Yuan/ton. According to the formula of calculating the maximum bidding price limit for central reserve cotton set by National Food and Strategic Reserves Administration and Ministry of Finance (No. 3, 2019) , the maximum bidding price for the 13th week (24th -28st Feb.) of 2019 seasonal Xinjiang cotton is 13,716 Yuan/ton (3128B), 44 Yuan higher than last week.

  2. Price increase home and abroad

    Currently, the spring ploughing has begun from South and North, and efforts been taken to weaken the impacts of coronavirus epidemic. During this week, Chinese government started to remove the US import goods tax for the second time (including cotton), while at the same time the 9th tax exclusion notice was announced by US government towards China import goods valued 200 billion USD (including some textile and apparel products), and domestic mills started operation lines gradually, all these factors contributed to the cotton price increase domestically.


    Weekly average price

    Domestic price (Yuan/ton)

    International price (cent/Lb.)

    CC Index(3128)

    ZCE Futures Contract CF005

    FCIndex M

    Cotlook A

    ICE2003 contract

    2.10-2.14

    13430

    13056

    78.51

    77.21

    68.03

    2.17-2.21

    13460

    13296

    78.54

    77.55

    68.51

    change

    30

    240

    0.03

    0.34

    0.48

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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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