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Port prices of imported cotton decline
29
Sep '11
China's prices of imported cotton at main ports generally fell on September 27, of which, the prices of cotton imported from Central Asia, Brazil and the United States posted the biggest fall by 7 cents, 6.75 cents and 4.5 cents, respectively.

Due to recent difficulties of cotton arrivals at ports, cotton traders have made large adjustments in price to attract customers. However, the deterioration of external environment has accelerated bearish sentiment on the market, therefore, it is difficult for cotton textile mills to refill inventory in large-scale at the time when the market is covered with bearish sentiment.

Among cotton types of SM1-1 / 8 "grade, the U.S. C/A cotton was quoted at 118.35 (cents / lb, which when converted in to RMB stands at 19,710 Yuan / ton (by sliding duty), at ports in terms of delivery price of general trade.

U.S. E/MOT cotton was quoted at 140.10 cents and when converted stood at 23,183 Yuan / ton at ports in terms of delivery price of general trade. Australian cotton was quoted at 123.35 cents and when converted stood at 20,514 Yuan / ton.

Uzbekistan cotton was quoted at 125.35 cents and when converted stood at 20,823 Yuan / to. West African cotton was quoted at 121.60 cents, and when converted stood at 20,226 Yuan / ton.

U.S. E/MOTM1-3/32 "grade cotton was quoted at 139.20 cents, and when converted stood at 23,036 Yuan / ton.

Fibre2fashion News Desk - China

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