Home / Knowledge / News / Textiles / Cotton auction will lead market trends in short term
Cotton auction will lead market trends in short term
27
May '09
Analysts say that auction transactions of state cotton reserves will lead short-term trends in the market and recommend investors to pay attention to the spread changes between futures and auction price.

In order to meet cotton needs of textile industry and stabilize cotton market, the state has planned to sell 1.5 million tons of state cotton reserves accumulated over the years starting from 2003.

On May 22, National Cotton Exchange (NCE) first released 8,890 tons of 2008 reserves, but the auction process was not as intensive as expected, of which 4,991 tons were traded with the highest closing price being 13,260 Yuan per ton.

On May 25, NCE released another 9,204 tons of 2008 cotton, but trading volumes further fell to 4,402 tons. Under the impact of auction, Zhengzhou cotton futures price has started to decline since last week.

Main contract price was offered at 13,300 Yuan on May 22 and 13,135 Yuan per ton on May 25, the level moved closer to prices prevailing in the auctioning of state cotton reserves.

Fibre2fashion News Desk - China


Must ReadView All

Textiles | On 24th Jul 2017

Govt extends deadline for GST composition scheme to Aug 16

The Government on India has extended the deadline for small...

L-R: Dhanapal, JMD, Best Corporation; Prabhu Damodaran, Convenor, ITF; Narayanasamy, MD, Micro Cotspin; Senthilnathan, MD Rasitex India; and Sabapathy, MD, Prasanna Spinning Mills

Textiles | On 24th Jul 2017

TN mills seek partnership with cotton growing states

Spinning mills in Tamil Nadu are seeking stronger partnership with...

Textiles | On 24th Jul 2017

Irani terms GST as a ‘great step towards transparency’

Union textiles minister Smriti Irani has termed the Goods and...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X