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China Cotton Index Monthly Report(October 2009)
Source: China Cotton Association Date: 2009-11-20
In October, because the market enlarges the cotton production reducing expectancy and new cotton arrival postpone, some areas appears rush-to-purchase resource phenomenon in specific period, the cotton price goes up unusually, some cotton enterprises store the cotton and wait to sell, market resources are relatively not very sufficient, the cotton price of spot market and reserve-out go up continuously, drive the downstream industry price up, the business risk is strengthened gradually. China Cotton Association releases the industry warning Seriesly, inhibit the cotton price fast upward trend.
1, The second band reserve-out finished and the auction price hit a new peak
In October, the second band reserve-out of 600,000 tons plan finished, the whole month plan make a deal of 331,800 tons at average grade 3.06, average length 28.27 millimetres, average price 14021 yuan / ton, up by 879 yuan from September, tansfer to 328 grade prices 14006 yuan / ton, up by 647 yuan.
By October 30, the accumulated reserve-out plan is 3.018 million tons, makes a deal of 2.135 million tons, a deal rate of 70.73%, transfer to 328 grade price 13222 yuan / ton. Among them 632,000 tons 2003-05 crops, a deal of 627,000 tons, transfer to 328 grade price 13263 yuan / ton; 2.386 million tons 2008 corps plan, a deal of 1.507 million tons, transfer to 328 grade price of 13028 yuan / ton.
2, The spot price keep rising
The CC Index328 grade is 14022 yuan / ton at the end of the month, up by 875 yuan commpare with last month; Monthly average price 13655 yuan/ ton, up by 4.7% from last month, 10.8% from the same period of last year.
3, Increase the control measure to safeguard the market stability
Recently, the relevant data indicate, textile situation is still very severe, the demand rebounding range is limited, it is difficult to afford the too high price of the cotton, and the country still store a large amount cotton and import quota to adjust, resources amount are comparatively sufficient too. The price going up too fast will lead to the market risk, unfavorable to each side of cotton industry of our country and developping in a healthy way too. The related departments have already confirmed the third band reserve-out of 500,000 tons schemes at the end of October, which can be listed and traded at any time, in addition, they will release the import quota at the end of the year, these measures can satisfy textile enterprise need with cotton, favorable to cotton to be market steady too.
1, The second band reserve-out finished and the auction price hit a new peak
In October, the second band reserve-out of 600,000 tons plan finished, the whole month plan make a deal of 331,800 tons at average grade 3.06, average length 28.27 millimetres, average price 14021 yuan / ton, up by 879 yuan from September, tansfer to 328 grade prices 14006 yuan / ton, up by 647 yuan.
By October 30, the accumulated reserve-out plan is 3.018 million tons, makes a deal of 2.135 million tons, a deal rate of 70.73%, transfer to 328 grade price 13222 yuan / ton. Among them 632,000 tons 2003-05 crops, a deal of 627,000 tons, transfer to 328 grade price 13263 yuan / ton; 2.386 million tons 2008 corps plan, a deal of 1.507 million tons, transfer to 328 grade price of 13028 yuan / ton.
2, The spot price keep rising
The CC Index328 grade is 14022 yuan / ton at the end of the month, up by 875 yuan commpare with last month; Monthly average price 13655 yuan/ ton, up by 4.7% from last month, 10.8% from the same period of last year.
3, Increase the control measure to safeguard the market stability
Recently, the relevant data indicate, textile situation is still very severe, the demand rebounding range is limited, it is difficult to afford the too high price of the cotton, and the country still store a large amount cotton and import quota to adjust, resources amount are comparatively sufficient too. The price going up too fast will lead to the market risk, unfavorable to each side of cotton industry of our country and developping in a healthy way too. The related departments have already confirmed the third band reserve-out of 500,000 tons schemes at the end of October, which can be listed and traded at any time, in addition, they will release the import quota at the end of the year, these measures can satisfy textile enterprise need with cotton, favorable to cotton to be market steady too.
