In June, average price of standard grade lint in Chinese mainland was 17,776 Yuan / ton, up 965 Yuan / ton or 5.7 percent from the previous month.
The average price of July contract at National Electronic Cotton Market was 18,678 Yuan / ton, up 633 Yuan / ton or 3.5 percent from the previous month and the settlement price of July contract at Zhengzhou cotton futures was 18,362 Yuan / ton, up 831 Yuan / ton, or 4.7 percent from the previous month.
In June, weak economic data of major economies in the world intensified market concerns over prospects of economic recovery; prices of commodity futures generally fell.
Spot prices in international cotton market rose slightly affected by tight supplies. Average price of July contract at New York cotton futures market was 81.43 cents / lb in June, down 0.06 cents / lb or 0.1 percent from the previous month.
Average price of imported cotton in terms of CFR and after taxes was 16,192 Yuan / ton based on calculation of 1 percent tariff, up 443 Yuan / ton, or 2.8 percent from the previous month, but 1,584 Yuan / ton below domestic market price.
Average price of imported cotton in terms of CFR and after taxes was 16,605 Yuan / ton based on calculation of sliding tariff, up 438 Yuan / ton, or 2.7 percent from the previous month, but 1,171 Yuan / ton, below domestic market price.
Fibre2fashion News Desk - China
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