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China cotton commercial stock monthly report – september, 2012

China cotton commercial stock monthly report – september, 2012 Source:
Date: 21-10-2012
Visits: 220
Very Poor

Monitored by: CCA Cotton Warehousing and Logistics BranchMonitored Subjects: 122 cotton warehouses in 17 Provinces or municipalities

In September, reserve cotton release and purchase processed at the same time, while domestic spot market was sluggish though price kept climbing. As new arrivals increment, most cotton companies chose to trade with reserve due to large difference between market and reserve prices, commercial stock decreased over last month, while still much higher Y/Y, including nearly 70% of Xinjiang cotton and about 20% of import cotton. Xinjiang cottons stock increased over the month due to earlier harvest and procurement than last year, while stock in inland decreased over the month. In September, actual wagon transported via railway in Xinjiang was 160 in daily average, mostly reserve cotton and commercial cotton daily delivery was only 12%.

according to CCA cotton warehousing branch survey on 122 cotton warehouses, by the end of September, 2012, commercial cotton carryover stock was 469,000 ton, 366,000 ton in inland and 103,000 ton in Xinjiang, the total volume decreased by 29,000 ton over the month, while 200,000 ton more than last September. According to survey, Xinjiang cotton was 318,000 ton, inland cotton was 62,000 ton and import cotton was 89,000 ton. Based on this, the national commercial cotton carryover stock was estimated to be 560,000 ton, 50,000 ton less over the month. During September, there was 30,000 ton commercial cotton dispatched via 22 transfer stations in Xinjiang to inland, 7,000 ton more than last month, while 7,000 ton less Y/Y.

1. Inland commercial carryover stocksBy the end of September, commercial cotton carryover stock in 100 warehouses was 366,000 ton, 73,000 ton less over the month, while 189,000 ton more than last August. The inland stock includes 217,000 ton from Xinjiang, and 62,000 ton from inland, and 87,000 ton of import cotton.

As for the distribution of inland stocks, Shandong and Jiangsu provinces still have the largest shares, about more than half of the national total, then followed by Henan, Hebei and Hubei provinces. Among these, Shandong has 27%, 5% more over the month, Jiangsu increased by 3% over the month to 33%. Henan was 13%, 1% up over the month; Hubei was 8%, 1% up over the month; Hebei was 3%, 6% less over the month; Anhui was 1%, 2% less and Hunan was 1%, unchanged.

2. Xinjiang commercial carryover stocks By the end of September, the carryover stock in 22 warehouses in Xinjiang was 103,000 ton, 44,000 ton up over the month, while 11,000 ton up Y/Y. Among these, 101,000 ton was Xinjiang cotton and 2,000 ton import cotton. In September, the actual daily wagons for Xinjiang cotton transport was 160, including 20 wagons for commercial cotton, and 140 wagons for reserve cotton. For this month, commercial cotton transported via railway was 30,000 ton, 7,000 ton more over the month, while 7,000 ton less than last September. Calculation based on this was 7,000 ton Xinjiang cotton still on the way by the end of September.
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