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China cotton index monthly report – october, 2013

China cotton index monthly report – october, 2013 Source: www.chinatexnet.com
Date: 16-12-2013
Visits: 267
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In October, China Cotton Pre-alarm System started to issue CC Index under the new cotton quality standard system. Supported by reserve purchase, the spot price increased slightly, though actual transaction was very limited. Import cotton remained the source for domestic mills.
 
1. CC Index in October
 
1.1CC Index increased slightly
 
CC Index edged upward to 19,651 Yuan per ton by the end of the month, up by 493 Yuan compared with the index under old quality standard by the end of September, and 178 Yuan up than the first issuance on 8th October of 19,473 Yuan per ton. The monthly average price for October was 19,588 Yuan per ton.
 
1.2higher price for inland areas
 
Monthly average price for type 3128B in Shandong was 19,716 Yuan per ton, type 4128B was 19,005 Yuan per ton, and 2227B was 17,731 Yuan per ton. In Hebei, type 3128B was 19,674 Yuan per ton, type 4128B was 18,963 Yuan per ton, and 2227B was 17,639 Yuan per ton.
 
1.3 mixed grade premium
 
Taking CC Index3128B as the benchmark, premium of type 2129B increased from 3.9% by the beginning of the month to 4.3% by the end of the month. Type 4128B increased from 3.5% to 3.6%. Premium of type 1228B decreased from 2.9% to 2.5%, 2227B decreased from 11.8% to 9.5%.
 
2. Major influential factors on domestic cotton price in October
 
Reserve purchase increased in volume during October, which was traditional hot season for seed cotton selling. By 31st October, cumulative reserve purchase was 1,084,420 ton. Supported by reserve purchase, seed cotton buying price increased slightly.
 
In October, most cotton contracts increased. MA1310 monthly average price increased by 119 Yuan over the month, MA1311 increased by 467 Yuan, the only decreased of 46 Yuan was seen by MA 1403.
 
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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