Weekly Report: State Reserve Purchased More than 2 Million Ton, About 80% from Xinjiang

By 15th November, temporary reserve purchase of 2013/14 season accomplished by 2,165,000 ton, comprising by 1,107,000 ton from Xinjiang, and 468,000 ton from inland, including 590,000 ton from key enterprises. The statistics show that Xinjiang cotton was 78.03% of the total purchase, 5.67% of Hubei, 4.20% of Shandong, 3.93% of Hebei. Last week (11th /15th November), because of the decline of purchase plan for key enterprises, actual transaction of reserve reduced by 34.5% over last week,  
Since this year, raw material of cotton textile mills came from reserve release and import cotton mostly, which totaled 7.09 million ton, including reserve sold of 3.72 million ton from the start of the year to the end of July, and import of 3.37 million ton from January to October. Currently, as former inventory and import quotas runs out in mills, some of them started to buy from the market. On 18th November, under new cotton standard, CC Index3128B settled at 19,720 Yuan per ton, 29 Yuan up over the week; ZCE cotton futures nearby contract settled at 19,750 Yuan per ton, 65 Yuan down over the week. According to CCA cotton processing industry branch, Xinjiang seed cotton in equivalent of 3128 has weekly buying price of 8.85 Yuan per kilo, the same with last week; Yellow River regions has weekly average buying price for seed cotton equivalent of 3128 of 8.49 Yuan per kilo, 0.02 Yuan down of the week; Yangtze regions has that of 8.4 Yuan per kilo, 0.17 Yuan up over the week.
As for import cotton price by weekend, FC Index settled at 89.46 cent/lb., 0.33 cent down over the week.