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China continues to release cotton from state reserves
Sep '12
The sale of cotton from China’s National Cotton Reserves continued on September 5.
On September 5, the Government released 45,202.18 tons of cotton from the reserves, of which around 75.76 percent or 34,247.06 tons of cotton was traded. The traded volume was 1,352.08 tons more than the quantity traded on the previous day.
The average length of cotton fibre sold on September 5 was 27.83 mm, which was 0.05 mm less than the average length a day earlier.
The average trading price was 18,606 Yuan/ton, which was equivalent to the transaction price of 18,669 Yuan/ton for cotton grade 328, a decrease of 21 Yuan/ton from previous day.
However, the price was 53 Yuan/ton higher than CC Index 328 price on the same day, and 336 Yuan/ton less than the traded price of next month’s contract in cotton market.
By September 5, China has overall released 88,873 tons of cotton from state reserves into the domestic market at an average price of 18,608 Yuan/ton, which equals to transaction price of 18,644 Yuan/ton for cotton grade 328.
The average length of cotton fibre sold so far was 27.87 mm.

Fibre2fashion News Desk - China

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