China Cotton Association: Reserve cotton round out smoothly and orderly
At the beginning of March 2018, the National Development and Reform Commission and the Ministry of Finance jointly issued an announcement to coordinate relevant parties to carry out the 2018 national reserve cotton turn-out sales preparation work. According to the announcement arrangement, the reserve cotton wheel was formally launched on March 12 and the deadline was tentatively set to be at the end of August 2018. The daily listing sales volume was temporarily set at 30,000 tons. At the same time, if there is a noticeable rapid increase in domestic and foreign market prices during a certain period of time, the sales turnover rate of reserve cotton auctions exceeds 70% for more than three days a week, and the number of daily listings will be increased, the sales period will be extended, or other measures will be adopted to ensure Market supply.
Since the reserve cotton wheel was sold on March 12, a total of 501,100 tons of listed resources have been sold, with a total turnover of 279,800 tons, a transaction rate of 62.15%, an average transaction price of 14,360 yuan/ton, and a discount of 3128 price of 15,518 yuan/ton. Among them, Xinjiang cotton has 196,000 tons of listed resources, 254,100 tons of real estate cotton, and Xinjiang cotton has 43.54%. During the period, a total of 195,900 tons of Xinjiang cotton, 83,900 tons of inland cotton, and 70.03% of Xinjiang's cotton have been traded. Textile enterprises captured a total of 135,400 tons of cotton, non-textile enterprises captured a total of 143,400 tons of cotton, and the textile company's bidding rate was 48.41%.
In March, the transaction of reserve cotton was generally smooth and orderly. Among them, Xinjiang cotton accounted for less than 50% of the total, but it accounted for 70% of the total volume. Xinjiang cotton has a clear dominant position and is still generally welcomed. In the same month, the total number of textile enterprises was slightly lower than the total amount obtained by non-textile enterprises, and there was a certain degree of wait-and-see attitude among textile enterprises.