Weekly Report: While Domestic Cotton Prices are Rising, Foreign Cotton Prices are Falling, and the Spread has Widened

Source:China Cotton Association  Date: 28/July/2020

1. The Reserve Cotton Rotation continues to be Fully Traded

In the fourth week of the reserve cotton rotation (July 20-24), 42,300 tons were listed for the whole week, with a transaction rate of 100%. Xinjiang cotton was sold at 18,700 tons, inland cotton was sold at 23,600 tons, the average transaction price was 11,575 Yuan/ton, the price of 3128 Yuan/ton is 12787 Yuan/ton.

 

2. The Price Difference between Domestic and Foreign Cotton Further Widened

Last week, domestic cotton prices rose steadily, while international cotton prices continued to fall due to the impact of sino-us tension, the domestic and foreign cotton spot price gap widened. The weekly average price of China cotton price CC Index(3128B) was 12,243 Yuan/ton, up 75 Yuan from the previous month. The weekly average price of imported cotton FC Index M was 69.27 cents/lb, down 0.81 cents month-on-month. Zhengzhou Commodity Exchange main cotton contract CF009 week average price 12080 Yuan/ton, up 35 Yuan month on month.

 

3. Some Cotton Areas in Xinjiang into Bolling Stage

Most of the northern cotton areas had good soil moisture, high temperature and sufficient light, which were conducive to the growth and development of cotton. Low temperature and low temperature and heavy rainfall in southern Huanghuai, Jianghuai, Jianghan, northern Jiangnan, and eastern southwestern regions affected cotton buds and flowers. At present, most of the cotton in Xinjiang, the Yellow River Basin, and the Yangtze River Basin is into the blooming period; parts of northwestern Henan are in the budding period, and the local areas in the eastern part of Xinjiang have begun to boil. 

Weekly average price

Domestic price (Yuan/ton)

International price (cent/Lb.)


CC Index(3128)

ZCE Futures Contract CF005

FCIndex M

Cotlook A

ICE2003 contract

7.13-7.17

12168

12045

70.08

68.76

62.78

7.20-7.24

12243

12080

69.27

67.71

62.06

Change

75

35

-0.81

-1.05

-0.72


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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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