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Chinese prices of imported cotton still attractive
09
Mar '12
China's M index of imported cotton increased 2.65 cents to 102.15 cents on March 6. Imported cotton price under sliding tax was at 16,866 Yuan.

The spread between imported cotton and domestic cotton reached 2,734 Yuan, making imported cotton prices still attractive.

The most active May contract at ICE cotton market fell 0.81 cent to 91.42 cents overnight, due to the impact of India's ban on cotton exports, strong dollar index and the fall in staple commodities.

Chinese cotton price index increased to 19,600 Yuan in spot market on March 7.

On purchase and storage side, as of March 6, the state purchased 2.748 million tons of cotton in total, accounting for 37.6 percent of China's annual output. Cotton market is still under pressure.

Fibre2fashion News Desk - China

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