Weekly Report: Cotton Prices Fell after the Rise, the International Rise is Obvious

1.Xinjiang Seed Cotton Purchase Price rose slightly

In late November, the purchase of seed cotton in Xinjiang came to an end, and the risk level of the epidemic in Kashgar was downgraded, and the cotton harvest gradually returned to normal. Xinjiang seed cotton purchase price rose slightly, with the weekly average price at 6.48 Yuan/kg, up 0.1 Yuan from last week. New cotton processing is continuing, most of northern Xinjiang ushered in the snowfall weather, seed cotton processing slightly affected. As of November 22, Xinjiang had processed about 3.05 million tons, up 10.07 % year on year. There are 1.951 million tons came from autonomous regions and 1.2999 million tons from the XPCC. According to the data of China Fiber Quality Monitoring Center, the notarization and inspection volume of cotton nationwide in 2020 reached 2,685,800 tons, with a year-on-year growth of 8.41%, among which xinjiang 2,60,100 tons, with a year-on-year growth of 9.44%. The inland weighed 35,700 tons, down 33.09% year on year.

2. Cotton Prices at Home and Abroad Fell first and then rose

Last week (November 16-20), the domestic textile market continued to weaken, the order volume of enterprises dropped significantly, domestic cotton prices fell in the first week of weakness, the later week of vaccine research and development brought optimistic expectations to the market, led to a recovery, the international cotton price increase is more obvious. The weekly average price of CC Index (3128B) was 14,475 Yuan/ton, up 8 Yuan from the previous month. Zhengzhou Commodity Exchange main cotton contract CF101 weekly average price 14,252 Yuan/ton, the same as last week.