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Cotton long & short sides wait for policy guidance
02
Jul '10
Cotton transactions through electronic matching in national cotton trade market reached 8,560 tons, on July 1, down by 10,120 tons from the previous day and all of them were under MA contracts.

Long and short sides continued to stay in stalemate, as they were waiting for policy guidance. The matching session opened lower amid shocks on the day.

Contract MA1007 closed at 18,980 Yuan, up 70 Yuan and the most active contract MA1008 closed at 18,875 Yuan, up 19 Yuan.

Trade volume through matching session registered 8560 tons, contract MA1009 accounted for more than 3000 tons, a share of nearly 40 percent.

Landed mill price of cotton price index in China was 18,804 Yuan / ton on July 1, 127 Yuan less than the average price of contract MA1007.

Cotton price index in China on July 1 was 18,335 Yuan / ton, an increase of 26 Yuan.

Fibre2fashion News Desk - China


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