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Textile mills hold low lint stocks to reduce risks
06
Jan '10
Cotton reserves auction concluded in the final week of December and cotton import quotas were issued on time and as scheduled. Companies that have got quotas reduced their purchasing amount of cotton from domestic markets.

Small and medium size spinning mills were still purchasing cotton in the spot markets, due to which performance of spot prices was relatively stable and did not show signs of sharp decline last week, even though trade volume was light.

During the last week of December, weekly average price of Chinese cotton price index (CCIndex328) stood at 14,855 Yuan / ton, up 17 Yuan compared with its previous week.

Cotton grade 229 touched 15,203 Yuan / ton, up 13 Yuan from the previous week and grade 527 marked 13,813 Yuan / ton, up 26 Yuan from the last week. Last week, the rate of increase of spot prices in domestic cotton slowed down from the previous week.

Current market conditions are still vague; textile mills hold low lint stocks in order to reduce risks. Large factories hold little more inventories, while small mills hold stocks that may last for about 15 days and are surviving on “hand to mouth" inventories.

Fibre2fashion News Desk - China

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