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Cotton markets improve towards end of March
10
Apr '09
China's cotton spot market turned steadily warmer in March and cotton prices continued to climb in April too, especially after the export tax rebate rate was raised for the textiles and apparel sector, which acted as a stimulant to cotton prices.

Cotton price of secondary grade reached 12,200 Yuan per ton and third grade marked 12,000 Yuan per ton, up 400 Yuan per ton from the previous month. The hike in prices was mainly attributable to tight market resources and an increase in demand.

At the end of March, average price of Chinese cotton price index (CCIndex328) was 11,692 Yuan per ton, an increase of 256 Yuan per ton from the closing of 11,436 Yuan per ton registered at the end of the previous month.

International spot market prices at the end of March were essentially flat when compared with the same period of the previous month. Cotlook (A) index was 53.05 cents at the end of March, up 0.25 cents from the end of the previous month.

Fibre2fashion News Desk - China

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