1 cotton delivery unit: 185 packs of 5 packs (227 packs 10kg/ pack), corresponding to 8 futures contracts.
The national standard is applicable to the delivery of 1 cotton.
Benchmark deliverable: 328B-grade domestic serrated fine-wool white cotton that meets the requirements of People's Republic of China (PRC) National Standard for Fine-wool Cotton (GB 1 103-2007).
Cotton for futures delivery shall be priced at different levels. Calculate graded pricing according to the re-inspection results:
(a) the main grade of cotton, cotton grading pricing. How to determine the main grade: In batch inspection, the grade accounts for more than 80%, and other grades are only adjacent to it.
(2) For cotton without a master level, a settlement level is generated by accumulation, and the accumulated cotton is priced according to the settlement level and the non-accumulated cotton. Determination method of settlement grade: according to the results of batch inspection, the settlement grade gradually decreases and accumulates from high grade to grade with accumulation ratio greater than or equal to 80%, and the uncollected grade is only adjacent to it.
Substitution and premium: according to Item (2) of Paragraph 3 of this article, the domestic sawteeth with the main grade and sedimentation grade of 4 or above, the length grade of 28 mm or above, and the micronaire grade of A and C2 meet the national standard of fine cotton in People's Republic of China (PRC) (GB 1 103-2007).
(1) grade promotion and premium: the first grade premium of domestic serrated fine wool white cotton meets the requirements of GB 1 103-2007, and the second grade premium is 450 yuan/ton; Four-level discount 500 yuan/ton; Grade 5 discount 1300 yuan/ton.
(2) Length premium: If the average length of cotton is greater than or equal to 30mm, the premium is 100 yuan/ton.
(three) the main micronaire grade of cotton, 50 yuan/ton; The main micronaire is C2 cotton, with premium 100 yuan/ton.
(4) In each delivery unit of cotton, if the number of foreign fiber packages is found to be 1 during sampling inspection, the cotton will be delivered normally; If it exceeds 1 package, the discount will be increased by 200 yuan/ton for each package found.
The insurance premium will be settled together with the payment.
4 yuan/ton will be applicable to the annual output of N+ 1 sawtooth fine-wool white cotton on the last working day from August to March of N+2.
Cotton packaging and packaging materials should comply with the relevant national regulations on cotton packaging.