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China cotton index monthly report – september, 2013

China cotton index monthly report – september, 2013 Source: www.chinatexnet.com
Date: 16-12-2013
Visits: 267
Very Poor

Entering new cotton season, temporary reserve purchase regulation details announced and Xinjiang cotton reserve purchase increased in volume, while inland reserve trade was less. Yarn market was weak with sluggish sales and decreased price, and production of which reduced also. Reserve is still the main channel for lint sales from ginners. In September, cotton spot market was weak in general.
 
1.CC Index in September
 
1.1Monthly average price of spot cotton decrease weakened
 
In September cotton spot market was weak as before, by the end of the month, CC Index328 settled at 19,158 Yuan per ton, 3 Yuan up over the month. The average monthly price was 19,151 Yuan per ton, 39 Yuan down over the month, 0.2% decrease, and 512 Yuan up over last September, 2.7% up.
 
1.2lower price in major inland areas
 
Monthly average prices for type 328 and 429 in Shandong were 19,201 Yuan per ton and 18,620 Yuan per ton, both was 0.1% down over the month. Type 328 and 429 in Hebei had monthly average price of 19,166 Yuan per ton and 18,615 Yuan per ton, 0.2% down and 0.4% down over the month.
 
1.3 mixed grade premium
 
Taking CC Index328 as the benchmark, premium of type 129 increased from 6.9% to 6.1% over the month. Type 229 increased from 4.4% to 4.3%. Premium of type 429 was 3.1%, 0.1% up over the month, and type 527 increased from 12.0% to -12.5%.   
 
2. Major influential factors on domestic cotton price in September
 
2.1 Xinjiang cotton reserve trade was active; inland ginners were more cautious
 
On 9th September, the temporary reserve purchase of the 2013/14 season was launched, and on 18th the first transaction was realized. Ginners in Xinjiang were active at purchasing with increasing seed cotton price; while inland ginners were more cautious at buying in worry of the strict reserve quality requirement. By 30th September, reserve trade totaled 100,630 ton, from 80,080 ton from Xinjiang, accounting for 80% of the overall volume.
 
2.2 cotton yarn price declined
 
September used to be the busy month for textiles; however the market witnessed no large improvement and production continued to shrink. Raw material for most yarn companies could last to October, and expecting the next round of reserve release.
 
2.3Price drop of commercial cotton
 
In September, commercial cotton price vibrated with decrease on all contracts, among which MA1309 plummeted by 945 Yuan and MA1310 was down by 775 Yuan, and all the other contracts decreased from 87 Yuan to 182 Yuan.
 
2.4 slight decrease in international cotton price
 
In September, international cotton spot price decrease slightly, as for the import cotton price, FC Index M has monthly average price of 96.73 cent/lb, 0.34 cent down over the month, which was 15,211 Yuan/ton under 1% tariff, 3,940 Yuan down over domestic equivalent, and 15,908 Yuan/ton under sliding duties, 3,243 Yuan down over domestic equivalent.
 
Monitored by: Beijing Cotton Outlook Consulting Co., Ltd.
 
Monitored Subjects: 100 cotton textile companies in 18 major cotton production and consumption Provinces of China
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