Domestic cotton prices rose steadily and international cotton prices fell sharply

Domestic cotton prices rose steadily International cotton prices fell sharply In the near future, purchasing and storage transactions continued to increase month-on-month, and turnover in one week remained high. In the week of October 22-26, the transaction volume reached 389,000 tons, an increase of 0.8 million tons from the previous week. As of October 26, the cumulative turnover of 2012 storage transactions was 1.504 million tons, including 378,000 tons in mainland China and 1.166 million tons in Xinjiang.

Cotton enterprises continued to actively pay for deposits, domestic cotton spot prices rose steadily, and downstream textile companies were cautious in purchasing, and spot purchases and sales were slightly more active than in the previous period. The domestic price of cotton yarns was mainly stable, and the market transactions increased slightly from the previous period. On October 26, 32 pure cotton carded yarns were offered at RMB 25,680/ton, which was RMB 20/ton higher than last week, which was an increase of 0.1%, which was a year-on-year decrease of RMB 1,390/ton or 5.1%; polyester staple fiber price was RMB 10,570/ton. Compared with the previous week, it was down 180 yuan/ton, a decrease of 1.7%, and a year-on-year decrease of 1930 yuan/ton, a decrease of 15.4%. The average purchase price of Mainland seed cotton was 4.21 yuan/kg, up 0.01 yuan/kg from the previous week, or 0.2%, up 0.05 yuan/kg year-on-year, or 1.2%; the average purchase price of Xinjiang seed cotton was 4.26 yuan/kg, up 0.01 yuan from last week. / Jin, or 0.2%, up 0.06 yuan/kg year-on-year, or 1.4%. The average sales price of standard lint in the Mainland was 18,793 yuan/ton, up 5 yuan/ton from the previous week, or 0.03%, down 652 yuan/ton or 3.4% year-on-year; the average price of Xinjiang standard lard sales was 18958 yuan/ton, compared with Zhou Pingping, down 795 yuan/ton from the same period last year, a decrease of 4%. Zhengzhou Cotton** November contract settled at 19,235 yuan/ton, down 80 yuan/ton from the previous week, a decrease of 0.4%, and a year-on-year decrease of 245 yuan/ton, a decrease of 1.3%; the average price of electronic contract trading in the national cotton trading market in November 18,810 yuan / ton, compared with last week fell 12 yuan / ton, a decrease of 0.1%, down 277 yuan / ton, or 1.5%.

Since October, the spot exchange rate against the US dollar has continued to rise, and exchange rate changes have added pressure on the profits of export companies. The 112th Canton Fair has come to an end, and many exhibitors have reported that their prices have not risen, orders have decreased, and orders to fill orders have become rare. Big business pressure is hard to change. On the supply side, according to statistics from the National Cotton Market Monitoring System, as of October 25, Xinjiang's sales of seed cotton knapsack cotton accounted for 66.8% of Xinjiang's output, up 15.1 percentage points from the same period of last year; The proportion of production in the Mainland was 37.4%, an increase of 5.3 percentage points from the same period of last year. The rapid acquisition, rapid processing, and fast storage of cotton enterprises exceeded the market's expectation in transaction volume, partially offsetting the supply pressure brought about by the light spot trading volume and bringing strong support to the domestic cotton market. It is expected that the domestic cotton price will soon rise. The pattern of continuity will continue. In November, the acquisition of seed cotton in Xinjiang began to gradually come to an end, and the mainland acquisition will become the main force. Given that the quality of new cotton in some cotton regions in the Mainland is affected by the weather in the previous period, coupled with unstable market conditions for cottonseeds, processing companies are still under pressure to acquire.

In the combined effect of a strong rebound in the US dollar index, weak global fundamentals of cotton supply and demand, and the desertion of US cotton export orders, the price of cotton in New York fell sharply. On October 26, New York Cotton ** settled at 72.42 cents/lb in December 2012, down 4.5 cents/lb from the previous week, a decrease of 5.8%. The international cotton index (M), which represents the average price of imported cotton in China's main ports, is calculated at a 1% tariff, and the import cost of imports is 13,318 yuan per ton, which is a decrease of 554 yuan per ton from last week, a decrease of 4%, which is lower than domestic The market price is 5475 yuan/ton, and the price difference is 559 yuan/ton higher than last week. According to the sliding tax calculation, the import cost of the iron alloy is 14379 yuan/ton, which is 413 yuan/ton lower than that of last week, down 2.8%, which is lower than the domestic market. 4414 yuan / ton, spreads increased by 418 yuan / ton last week.

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