Weekly Report: US Expands Cotton Sanctions in Xinjiang, Textile Exports Rise for Year

Source:China Cotton Association  Date: 18/January/2021

1. The United States Expanded Sanctions on Cotton Products in Xinjiang The International Market was Relatively Stronger than the Domestic

Last week (January 11-15), the US government issued a ban on the import of cotton products from Xinjiang on the grounds of "forced labor", which triggered market concerns. The international market was relatively stronger than the domestic market, mainly because the US Department of Agriculture (USDA) revised down the global and US cotton production in its January demand forecast report. Last week, the average price of CC Index(3128B) was 15,266 yuan/ton, up 16 yuan from last month. The average weekly price of CF105, the main cotton contract of Zhengzhou Commodity Exchange, was 15,165 yuan/ton, down 226 yuan month-on-month.

2. Xinjiang's Cotton Processing Capacity Exceeded 5.3 Million tons

As of January 17, 2021, Xinjiang's total lint processing volume totaled 5.3218 million tons, an increase of 7.3% year on year, the autonomous region's lint processing volume was 3.2878 million tons and the XPCC's lint processing volume was 2.034 million tons. According to the data of China Fiber Quality Monitoring Center, the annual cotton notarization and inspection volume reached 5.2222 million tons in 2020, with a year-on-year growth of 4.76%, of which 5.09982 million tons in Xinjiang, with a year-on-year growth of 5.53%; 124,000 tons on the mainland, down 15.26% year on year.

 

3. China's Textile and Garment Exports Grew by 9.5%

According to the data released by the General Administration of Customs on January 14, China's textile and garment exports totaled US $291.22 billion in 2020, up 9.5% year on year, including US $153.84 billion in textile exports, up 29.2% year on year, and US $137.38 billion in garment exports, down 6.4% year on year. Textiles rose for nine consecutive months from April, while apparel reversed for five consecutive months from August.

Weekly average price

Domestic price (Yuan/ton)

International price (cent/Lb.)


CC Index(3128)

ZCE Futures Contract CF005

FCIndex M

Cotlook A

ICE2003 contract

1.04-1.08

15250

15391

87.44

86.00

79.78

1.11-1.15

15266

15165

88.85

87.25

80.98

Change

16

-226

1.41

1.25

1.20


Download
China Cotton Index (CC Index)
2021-10-27       more>>
  • CCindex (3128B) : 22313 99
  • CCindex (2227B) : 21099 70
  • CCindex (2129B) : 22805 87
Foreign Cotton Index (FC Index)
2021-10-27      more>>
  • FC index S: 124.06 0.25
  • FC index M: 122.74 0.22
  • FC index L: 121.21 0.22
Monthly Data
Copyright © CHINA COTTON ASSOCIATION 2008