Weekly Report: Cotton Price Declined both Home and Abroad, Less than 50% of Reserve Cotton Transaction

Source:China Cotton Association  Date: 16/March/2020

1.Reserve Cotton Transaction Dropped

The fifteenth week of reserve cotton rotation (March 9-13), the turnover rate fell significantly. It is planned to rotate 75,000 tons throughout the week, with a cumulative turnover of 33,500 tons, a 44.69% turnover rate, which is 27.66% lower than last week. As of March 13, the accumulated turnover of the reserve cotton round reached 219,960 tons, with a transaction rate of 37.28%. The highest transaction price was 14,197 Yuan / ton and the lowest transaction price was 12,879 Yuan / ton.

 

According to the formula of the maximum price limit for the central reserve cotton round bidding in the announcement issued by the State Food and Material Reserve Bureau and the Ministry of Finance (No. 3, 2019), the 16th week of Xinjiang cotton round entry in 2019 (March 16 -March 20) The highest bid limit price was 12,901 Yuan / ton (standard grade 3128B price), which was 243 Yuan / ton lower than previous week.

 

2. Cotton Price Declined both Home and Abroad

Last week, the foreign epidemic continued to spread, Saudi Arabia announced to lower oil prices, the international commodity market continued to decline. Affected by this, domestic and foreign cotton prices continue to fall. The average weekly price of China Cotton CC Index (3128B) was 12,670 Yuan/ton, down 299 Yuan month-on-month. The weekly average price of Cotlook A Index was 70.83 cents/lb, which decreased by 1.12 cents month-on-month. The 1% tariff reduced by 12,235 Yuan/ton, 435 Yuan lower than CC Index (3128B), and 13,888 Yuan/ton lower than CC Index (3128B). The weekly average price of imported cotton was 72.12 cents per pound, down 1.27 cents. Zhengzhou Commodity Exchange cotton main contract CF005 weekly average price of 12,194 Yuan/ton, down 383 Yuan month-on-month; ICE cotton futures recently traded at an average weekly price of 60.87 cents per pound, down 2.27 cents month-on-month.

Weekly average price

Domestic price (Yuan/ton)

International price (cent/Lb.)

CC Index(3128)

ZCE Futures Contract CF005

FCIndex M

Cotlook A

ICE2003 contract

1.13-1.17

12969

12577

73.39

71.95

63.14

1.20-1.31

12670

12194

72.12

70.83

60.87

change

-299

-383

-1.27

-1.12

-2.27

 

 


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China Cotton Index (CC Index)
2021-12-1       more>>
  • CCindex (3128B) : 22242 -302
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