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Price of imported cotton dips at Chinese ports
03
Feb '12
The prices of imported cotton at main Chinese ports basically declined on January 31, of which, Australian cotton and US cotton showed significant drop of 1.25 cents / lb.

It is learnt that mills are not so much interested in purchasing foreign cotton, although import quota has been issued.

Secondly, the Chinese New Year holidays are not over yet and thirdly, there is no real good news in the market, which has put downward pressure on cotton prices.

Analysts say that trade in imported cotton will continue to remain light, till mills return to the spot cotton market.

US C/A cotton grade SM1-1/8" was quoted at 112.35 cents / lb, which is equivalent to 18,621 Yuan / ton when converted in to local currency by means of sliding duty.

US E/MOT cotton was quoted at 110.35 cents / lb or 18,311 Yuan / ton. Australian cotton was quoted at 117.85 cents / lb or 19,504 Yuan / ton.

Uzbekistan cotton was quoted at 115.35 cents / lb or 19,095 Yuan / ton. West African cotton was quoted at 105.35 cents / lb or 17,523 Yuan / ton.

US cotton grade E/MOTM1-3/32" was quoted at 107.85 cents / lb or 17,917 Yuan / ton.

Fibre2fashion News Desk - China

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