New Cotton Temporary Storage And Purchase Start Zero Turnover
Since 8 this month, the new cotton temporary storage and purchase mechanism has been operating since its inception.
Zero turnover
The result is surprising and reasonable.
According to the regulations on the quantity of storage, the paction of the mainland warehouse must be no less than 90 tons, and the Xinjiang storehouse should not be less than 200 tons.
In September cotton had just started large-scale harvesting, but it has not yet been listed in large quantities.
Storage
Businesses are still waiting for the opportunity to be unified.
Another more important reason is the price factor.
According to the latest standard grade seed cotton reference purchase price conversion (seed cotton 4.47 yuan / Jin, cottonseed 2.6 yuan / Jin, lint 38%, wastage 1%, processing fee 700 yuan / ton), lint costs at 20218 yuan / ton, in addition to pactions, pportation, taxes and interest costs, the cost of storage is significantly higher than the reserve price, thereby inhibiting the enthusiasm of enterprises to store.
At present, the cotton market is in a stalemate as a whole.
On spot purchase, cotton merchants and cotton farmers are playing games, waiting for a favorable deal.
Price
。
In the futures market, capital withdrawals are obvious, and they are in a stalemate.
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