Core Insights - The cotton fields in Tumushuke City, Xinjiang, are experiencing a bountiful harvest due to the promotion of full mechanization and advanced planting techniques such as "dry sowing and wet emergence" [1][5] Group 1: Agricultural Modernization - Tumushuke City has significantly improved its cotton planting and harvesting mechanization rate, which now exceeds 93% [5] - The city has deployed over 260 cotton harvesting machines, which are expected to yield 465,000 tons of seed cotton [6] Group 2: Advanced Planting Techniques - The "dry sowing and wet emergence" technique involves laying drip irrigation tape and plastic film for sowing without winter-spring irrigation, conserving water resources and enhancing cotton yield [5][6] - Each cotton harvesting machine operates on an average area of over 200 acres per day, showcasing the efficiency of mechanized operations [3]

Core Insights - The Ministry of Agriculture and Rural Affairs forecasts stable domestic cotton prices due to strong expectations of abundant harvests and a significant reduction in import volumes [1] - International cotton prices are expected to remain under pressure as major producing countries anticipate high yields, while global recovery remains weak and consumer demand has not shown significant improvement [1] Domestic Market Summary - Strong expectations for cotton production in the domestic market lead to a stable price outlook - The issuance of an additional 200,000 tons of cotton sliding tax quota is limited to processing trade, indicating that imports are not expected to surge in the near future - The textile sector is entering a peak season, contributing to the stability of domestic cotton prices [1] International Market Summary - The new cotton harvest in the Northern Hemisphere is expected to be abundant, which may exert downward pressure on international prices - Weak global economic recovery and lack of significant improvement in consumer demand suggest that international cotton prices will likely trend lower in the short term [1]

Group 1: Harvest Progress - In Heilongjiang's Shuangyashan City, over 90% of the autumn grain harvest has been completed, entering the final stages [1] - The overall harvest progress is five days ahead of last year, with full completion expected by late October [2] Group 2: Agricultural Technology and Efficiency - New machinery is being utilized for the late rice harvest in Hunan, with over 19 million acres of late rice expected to be harvested by early November [3] - In Hunan's Yuanjiang City, upgraded harvesting machines have reduced grain loss rates by 2 percentage points compared to older models [4] - Automated grain purchasing systems have been implemented in Baoqing County, ensuring timely conversion of wet grain to dry grain [2] Group 3: Crop Quality and Yield - Xinjiang's Turpan City has 124,000 acres of cotton entering the harvest phase, with improvements in both quality and yield due to advanced agricultural techniques [5] - The entire cotton production process in Turpan City has been fully mechanized, with over 60% of the cotton already harvested [6]

1. Report Industry Investment Rating There is no information provided regarding the report's industry investment rating. 2. Core Viewpoints of the Report - In the international market, the macro - situation of the US cotton market shows no significant changes. With a high - quality rate at a relatively high level compared to the same period in previous years, the US cotton is expected to show a volatile trend. In the domestic market, as new cotton is being acquired and the acquisition price stabilizes while downstream demand remains unchanged, the Zhengzhou cotton is expected to fluctuate in the short term [8][25]. - As new cotton is increasingly on the market, there will be selling hedging pressure on the futures market. The peak season demand on the demand side is general, with limited improvement, so its boosting effect on the futures market is also limited [25][42]. 3. Summary by Relevant Catalogs 3.1 International Market Analysis - **US Cotton Market**: With no obvious changes in the macro - situation and a high - quality rate at a relatively high level compared to the same period in previous years, the US cotton is expected to fluctuate [8]. - **US Cotton Growth**: As of October 10, 2025, the cumulative inspection volume of US upland cotton + Pima cotton was 269,100 tons, accounting for 8.6% of the estimated annual US cotton output, 27% slower year - on - year. The inspection progress of US upland cotton was 9.57%, 27% slower year - on - year, and the inspection of Pima cotton had not started. The weekly deliverable ratio was 69.2%, and the quarterly deliverable ratio was 80.6%, 7 percentage points higher year - on - year and 4 percentage points lower quarter - on - quarter [8]. - **US Cotton Sales**: As of the week of September 18, 2025, the weekly contract signing volume of 2025/26 US upland cotton was 19,500 tons, a 54% week - on - week decrease; the weekly shipment volume was 31,100 tons, a 14% week - on - week increase [8]. - **CFTC Position**: As of September 23, 2025, the net long position ratio of ICE cotton futures funds was - 23.65% (a 0.34 - percentage - point week - on - week decrease) [8]. - **Brazil**: The 2024/25 annual cotton output in Brazil is expected to be 4.077 million tons, a 16,000 - ton increase from the previous month. The 2025/26 annual output is expected to be 4.031 million tons, a 46,000 - ton decrease year - on - year [8]. - **Pakistan**: As of September 30, 2025, the cumulative new cotton listing volume in Pakistan in the 2025/26 season reached 472,000 tons, a 49% year - on - year increase [8]. - **Global**: According to the latest September global cotton production and sales forecast by the USDA, the global cotton output in September was 25.62 million tons, a 230,000 - ton month - on - month increase; the total consumption was 25.68 million tons, an 184,000 - ton increase; the ending inventory decreased by 168,000 tons to 15.92 million tons [8]. 3.2 Domestic Market Logic Analysis - **Supply Side**: The domestic new cotton harvesting is in a high - incidence period. The harvesting progress in northern Xinjiang is nearly 80%, and about 30% in southern Xinjiang. The market speculates on the production reduction in southern Xinjiang, driving up the seed cotton price. As of October 16, 2025, the operating rate of national ginneries increased to 76.9%, a 62.5% increase from the previous week. As of October 15, 2025, the cumulative notarized inspection volume was 491,499 tons, a 113.21% year - on - year increase. As of October 10, 2025, the total commercial cotton inventory was 1.1554 million tons, a 174,600 - ton (17.80%) increase from the previous week [25]. - **Demand Side**: As of October 16, 2025, the operating load of spinning mills in the mainstream areas was 65.6%, a 0.20% increase from the previous week. The yarn inventory of spinning mills decreased by 1% month - on - month [25]. 3.3 Option Strategy - Volatility Trend: The HV on the previous day was 8.4519, with a slight decrease in volatility. - Option Strategy Recommendation: The PCR of the main contract of Zhengzhou cotton was 0.7661, and the PCR of trading volume was 0.8549. Both call and put trading volumes increased. It is recommended to wait and see [39]. 3.4 Futures Trading Strategy - **Trading Logic**: During the holiday, as new cotton is being acquired, the market focus shifts to the opening price of new cotton. With a high cotton output in Xinjiang and general acquisition enthusiasm of ginneries, there is no large - scale rush for acquisition. As new cotton is increasingly on the market, there will be selling hedging pressure on the futures market. The peak season demand is general, with limited improvement, so its boosting effect on the futures market is also limited [42]. - **Single - Side Trading**: It is expected that the US cotton will mostly fluctuate in the future, and the Zhengzhou cotton is also expected to fluctuate. It is recommended to trade at an appropriate time [42]. - **Arbitrage**: It is recommended to wait and see [42]. 3.5 Weekly Data Tracking - **Mid - end Situation**: Information on the operating load of pure - cotton yarn mills, the load of all - cotton grey fabric mills, yarn inventory days, and grey fabric inventory days is presented through historical data charts [49]. - **Cotton Inventory**: Data on national commercial cotton inventory, spinning mill industrial cotton inventory, and reserve inventory from 2015 to 2024 are provided [51]. - **Futures - Spot Basis**: Information on the basis of cotton in January, May, and September, the average basis of US upland cotton in seven major markets, and the basis between the spot price of C32S cotton yarn and the active contract of Zhengzhou cotton yarn is presented through historical data charts [54].

Group 1: Cotton Futures Market Overview - The ICE cotton futures prices are experiencing a weak trend, opening at 63.83 cents per pound and currently at 63.79 cents per pound, with a decline of 0.06% [1] - On October 15, the ICE cotton futures showed a slight increase in closing price to 63.73 cents per pound, up by 0.33% from the previous day [1] Group 2: Import Costs and Domestic Prices - The landed cost of medium-quality imported cotton under quota (1% tariff) is 12,808 yuan per ton, which is 1,866 yuan per ton lower than the domestic standard-grade cotton price [1] - The landed cost of imported cotton under sliding tax (5%-40% rate) is 13,856 yuan per ton, which is 818 yuan per ton lower than the domestic cotton price [1] Group 3: Brazilian Cotton Production - The IBGE report indicates that Brazil's total cotton planting area is expected to be 2.13 million hectares, a decrease of 0.3% from the previous month, but an increase of 4.8% from last year [1] - The expected cotton production in Brazil is 0.09805 million tons, which is an increase of 3.7% from the previous month's estimate and a 10.6% increase from last year's production of 0.08866 million tons [1] Group 4: Cotton Prices in Xinjiang - The average purchase price of machine-picked cotton in Xinjiang is 6.15 yuan per kilogram, up by 0.05 yuan per kilogram from the previous day [2] - The average purchase price of hand-picked cotton is 7.02 yuan per kilogram, up by 0.01 yuan per kilogram from the previous day, but both prices are approximately 0.15 yuan per kilogram lower than the same period last year [2]

Core Insights - The article highlights a visit by foreign consuls and business representatives to the cotton fields in Xinjiang, showcasing the region's significance in cotton production and its potential for international trade [1][2][3] Group 1: Visit Overview - The delegation included nearly 50 participants, such as foreign consuls, business leaders, and government officials, led by the Chinese Foreign Ministry's representative in Hong Kong [2] - The journey through southern Xinjiang revealed extensive cotton fields, which captivated the visitors and provided a vivid contrast to their expectations of the region [2] Group 2: Economic Potential - The cotton produced in Xinjiang is not only for domestic use but also exported to Central Asia and Europe, indicating the region's vital role in the global cotton supply chain [1][2] - The visitors expressed a desire to engage with local businesses and understand the trade dynamics, emphasizing the importance of grasping the local economic vitality for potential collaborations [2][3] Group 3: Perception Shift - The experience of seeing the cotton fields firsthand helped to dispel preconceived notions about Xinjiang, allowing the visitors to recognize the region's opportunities for cross-border cooperation [3] - The visit served as a starting point for promoting Xinjiang's potential to foreign partners, particularly in the context of the cotton industry's supply chain [3]

Core Insights - The cotton industry in Xinjiang is undergoing a transformation, moving from traditional harvesting methods to a more integrated and modernized supply chain, enhancing the quality and efficiency of cotton production [1][2][3] Group 1: Cotton Production - Xinjiang cotton farmers are achieving high yields, with many reporting an average output of over 500 kilograms per mu, and some exceeding 600 kilograms per mu [1][2] - The focus on selecting superior cotton varieties has significantly improved the quality of cotton produced in the region, benefiting both farmers and downstream industries [2][3] Group 2: Industry Development - The number of spindles in Xinjiang has reached approximately 30 million, accounting for 37% of the national textile industry, indicating the region's growing importance in the textile sector [4] - Major textile enterprises are establishing operations in Xinjiang, attracted by favorable policies and the availability of local resources, which enhances the overall competitiveness of the industry [3][4] Group 3: Financial Instruments and Risk Management - The introduction of cotton futures and options has provided essential financial tools for risk management, allowing farmers and textile companies to stabilize their operations and secure profits [5][6] - The "insurance + futures" model has helped bridge the gap between small-scale production and large markets, offering price guarantees to cotton farmers [6]

Group 1: Power Transmission and Technology - The Changji Converter Station, part of the Changji-Guquan ±1100 kV UHVDC project, has delivered a total of 368 billion kWh of electricity since its operation in September 2019, with 51.2 billion kWh delivered in the current year [1] - The ±1100 kV UHVDC converter transformers used at the station were independently developed by TBEA Co., Ltd, showcasing significant advancements in domestic technology [1] - Zhang Guoyun, a key technician at TBEA, has played a crucial role in the development of these transformers, reflecting the company's commitment to innovation and quality in power equipment manufacturing [2] Group 2: Agriculture and Cotton Production - Xinjiang's cotton industry is highlighted as a key sector, with an average yield of 154.9 kg per mu and a total production of 5.686 million tons in 2024, accounting for 92.2% of the national output [2] - The research led by Professor Zhang Ruoyu at Shihezi University focuses on the digitalization and sustainable development of cotton production, indicating a shift towards modern agricultural practices [2] Group 3: Drone Technology and Low-altitude Economy - Xinjiang Tianyu Hangtong Technology Co., established in 2023, is poised to tap into the agricultural market with its large-scale drones, driven by the region's vast agricultural land and favorable airspace management [3] - The development of low-altitude economy is supported by improved infrastructure, including the Beidou satellite system and 5G networks, which are expected to accelerate growth in this sector [3] Group 4: Oil Industry and Digital Transformation - Karamay, a city known for its oil production, anticipates an oil and gas equivalent output exceeding 20 million tons by 2025, with crude oil production reaching 15 million tons [3] - The city has embraced digital economy initiatives, establishing Xinjiang's first cloud computing industrial park in 2012 and developing six large data centers under the "East Data West Computing" project [4] - The transformation of traditional industries through digitalization is seen as a key driver for high-quality economic development in Karamay [4]

准噶尔盆地东缘的戈壁滩上，占地相当于59个标准足球场的新疆昌吉换流站坐落于此。空中银线纵横交 错，铁塔高耸入云，换流变压器持续发出低沉的嗡鸣。作为昌吉—古泉±1100千伏特高压直流输电工程 的送端起点，昌吉换流站自2019年9月投运以来，累计向外送电3680亿千瓦时，本年度送电已达512亿千 瓦时。 2000多个日日夜夜的安全稳定运行，离不开运维人员24小时运检保障。站长王鸿在昌吉换流站开工建设 时，就来到这片戈壁滩，"看着昌吉换流站逐步建成、稳定运行，我既为能参与这项工程而自豪，也时 刻铭记着肩上沉甸甸的责任。"3万多台设备日夜不停工作，各路奔来的电流被不断升压，最终冲出换流 站，稳定输往东部地区，点亮万家灯火。 昌吉换流站使用的±1100千伏特高压直流换流变压器，由特变电工股份有限公司自主研发。全国五一劳 动奖章获得者、2023年"大国工匠年度人物"张国云，是特变电工新疆变压器厂的首席技师。他所攻克的 技术之一，就是±1100千伏特高压直流换流变压器的线圈绕制。 自1999年毕业进入特变电工，张国云已在生产一线工作了26年。他感慨："公司最初生产中低压小产 品，现在制造大国重器；我有幸参与包括吉泉直流工程 ...

央视 CCTV/13 新 闻 新闻直播 10月11日14:35 E房城乡建设部："十四五"期间，全国累计销售新建商品住宅简轶4 D ...