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 22nd May 2017

GST to be biggest achievement of Modi govt: ASSOCHAM

Goods and Services Tax (GST) which is near a roll-out would be the...

Textiles | On 22nd May 2017

Maintaining NAFTA benefits is crucial: Cotton council

The US must remain a participant in a vibrant North American Free...

Apparel/Garments | On 22nd May 2017

Retailers ask Congress not to go for consumption tax

The National Retail Federation has asked US Congress to focus on...

Interviews View All

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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