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China continues to sell cotton from state reserves
Sep '12
China is continuing with its release of cotton from National Cotton Reserves, which it started on September 3.
On September 18, the Government released 45,005.70 tons of cotton from the reserves, of which around 48.92 percent or 22,015.46 tons of cotton was traded. The traded volume was 4,948.55 tons more than the quantity traded on the previous day.
The average length of cotton fibre sold on September 18 was 27.79 mm, which was 0.01 mm less than the average length a day earlier.
The average trading price was 18,516 Yuan/ton, which was equivalent to the transaction price of 18,642 Yuan/ton for cotton grade 328, an increase of 25 Yuan/ton from previous day. The price was 3 Yuan/ton higher than CC Index 328 price on the same day, and 339 Yuan/ton less than the traded price of next month’s contract in cotton market.
By September 18, China has overall released 256,213.46 tons of cotton from state reserves into the domestic market at an average price of 18,555 Yuan/ton, which equals to transaction price of 18,636 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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