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Prices rise slightly in Chinese cotton spot markets
30 Nov '12
1 min read
There was a slight rise in cotton prices in Chinese spot markets on November 28.
The price of cotton grade 328 rose 11 yuan to 18,902 yuan/ton, while the price of cotton grade 528 increased 10 yuan to 16,619 yuan/ton.
Cotton 229 index gained 3 yuan and moved up to 19,781 yuan/ton.
On November 28, Chinese Government procured 47,980 tons of cotton for state reserves, of which, 23,200 tons were purchased from Xinjiang and the remaining from inland warehouses.
Under its temporary purchase and storage plan, the Chinese Government has so far purchased 3.354 million tons of cotton this season. The Government procured 1.845 million tons of cotton from Xinjiang, 1.034 million tons from inland areas and 473,840 tons from trading enterprises.
Fibre2fashion News Desk - China
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