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China's release of cotton reserves crosses 2.5mn tons
15 Mar '13
1 min read
As of March 13, 2013, the release of cotton from state reserves by China has crossed 2.516 million tons. However, the actual turnover was much less at 732,403 tons, thus achieving a turnover ratio of 29.1 percent.
On March 13, China released 70,056 tons of cotton from its reserves and the actual turnover registered was 19,336 tons. The turnover ratio was 27.6 percent, which was 6.79 percent higher than the previous trading day.
The average rating of the cotton released from reserves on the day was 3.57 and the average length was 28.4 mm.
The average trading price was 19,044 yuan/ton, 92 yuan/ton higher than the average trading price of the previous day.
The trading price translates to the transaction price of 19,291 yuan/ton for cotton grade 328, up 33 yuan/ton compared with the previous trading day, but down 60 yuan/ton compared with the price of CC Index 328 on the day.
Fibre2fashion News Desk - China
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