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China's domestic cotton market remains stable in June
25
Jul '13
In June 2013, China’s domestic cotton market remained stable, while international cotton spot prices fell.
 
The average price of Mainland standard grade lint was 19,280 yuan/ton last month, down 20 yuan/ton or 0.1 percent from the previous month. The price of Xinjiang standard grade lint was 19,504 yuan/ton, unchanged from May 2013. 
 
The Zhengzhou cotton futures July contract settlement price was 19,916 yuan/ton, up 66 yuan/ton or 0.3 percent from last month. The July contract price in national cotton trading market electronic trading was 18,919 yuan/ton, down 591 yuan/ton or 3 percent from the previous month.
 
The sale from cotton reserves in June was 609,000 tons, an increase of 13,000 tons over the previous month. As of June-end the total sales from cotton reserves stood at 2.513 million tons.
 
In June 2013, international market spot price of cotton fell due to decline in imports of US cotton and other factors. The price of imported cotton at Chinese main ports, calculated at 1 percent tariff, was 14,761 yuan/ton, down 177 yuan/ton or 1.2 percent from the previous month.
 
When calculated on sliding tax basis, the price of imported cotton worked out to 15,629 yuan/ton, down 130 yuan/ton or 0.8 percent from May 2013.
 
Meanwhile, the New York cotton futures announced its July contract settlement price at 85.67 cents/lb, showing a rise of 1.02 cents/lb or 1.2 percent over May settlement price. 
 
In June, China imported 270,000 tons of cotton, showing a decrease of 43.3 percent year-on-year, according to Customs statistics.
 
During the month, China produced 3.044 million tons of yarn, up 5.5 percent year-on-year, according to the National Bureau of Statistics.
 
The average price of 32s cotton carded yarn was 25,910 yuan/ton last month, showing a dip of 23 yuan/ton or 0.1 percent.
 

Fibre2fashion News Desk - India

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