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Chinese port prices of Indian cotton up y-o-y in Dec
08 Dec '11
1 min read
Prices of Indian raw cotton arriving at Chinese ports are higher in the month of December from the same month, a year ago. However, offers for cotton arrivals in January 2012 are down from December 2011.
Arrivals of Shankar-6 quality of raw cotton of the 2011-12 season imported from India at Qingdao, Zhangjiagang and Shanghai ports in the first week of December was quoted at 18,100-18,200 Yuan / ton, up around 5 percent from December 2010.
But offers for raw cotton arrivals in January 2012 are at 14,500-15,000 Yuan / ton, a fall of nearly 3,000 Yuan / ton from those prevailing in December 2011. Landing prices are calculated on basis of sliding customs duty.
Experts attribute the higher Indian cotton prices in December to deliveries based on orders placed in earlier months, Chinese cotton stocks still not at high levels, stabilizing of Chinese raw cotton prices and low quantity of cotton imports from US and Australia.
Arrivals of Shankar-6 quality of raw cotton of the 2011-12 season imported from India at Qingdao, Zhangjiagang and Shanghai ports in the first week of December was quoted at 18,100-18,200 Yuan / ton, up around 5 percent from December 2010.
But offers for raw cotton arrivals in January 2012 are at 14,500-15,000 Yuan / ton, a fall of nearly 3,000 Yuan / ton from those prevailing in December 2011. Landing prices are calculated on basis of sliding customs duty.
Experts attribute the higher Indian cotton prices in December to deliveries based on orders placed in earlier months, Chinese cotton stocks still not at high levels, stabilizing of Chinese raw cotton prices and low quantity of cotton imports from US and Australia.
Fibre2fashion News Desk - China
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