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Cotton reserve auctions meet with success
16
Sep '09
China planned to sell 15,021 tons of cotton reserves on September 14, of which, 4179 tons were 2004/05 cotton reserves and 10,842 tons were 2008 cotton reserves.

The actual traded quantity was 12,352 tons, of which, all of 2004/05 cotton reserves were sold out and 8173 tons of 2008, while 2669 tons failed to be sold out. Weighted average price was 13,068 Yuan per ton.

As of September 14, total quantity of cotton reserves already sold out was 1,627,551 tons in the country, of which, 1,068,841 tons are 2008 cotton reserves, 527,248 tons are 2003/2004 cotton reserves and 31,462 tons are 2004/2005 cotton reserves.

Fibre2fashion News Desk - China

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