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Prices of imported cotton decline at Chinese ports
11
Apr '13
The prices of imported cotton are declining in recent time at major Chinese ports and on April 10, most varieties fell by 0.75 cents/lb. 
 
There was no improvement in market transactions as textile mills are still trying to get the exact policy message as in the event of the Government offloading its reserves, there will be enormous pressure on the market.
 
On April 10, the spot price of US cotton was quoted at 98.10 cents/lb and port delivery price, including sliding duty, was 16,182 yuan/ton. Similarly, the price of Uzbek cotton was 100.85 cents/lb, with port delivery price being 16,520 yuan/ton, with sliding duty.
 
The price of cotton imported from West Africa was assessed at 94.85 cents/lb, and the port delivery price was 16,795 yuan/ton, including sliding tax.
 
Indian cotton was the cheapest among the imported cotton and was available at 92.70 cents/lb, with the port delivery price being 15,545 yuan/ton, with sliding tax.
 
Meanwhile, the domestic cotton prices are relatively stable. The Government has announced implementation of cotton purchase and storage policy for 2013-14 season, aimed at stabilizing the spot price.
 
The price of CNCotton A was 20,150 yuan/ton, while the price of CNCotton B was 19,325 yuan/ton on April 10.
 
Since March this year, orders with Chinese textile enterprises have been gradually increasing and looking at the current situation, the demand for cotton is likely to increase in near future.
 

Fibre2fashion News Desk - China

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