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State reserves cotton auction generates record price
11
Aug '10
In the first state reserves cotton auction of the season, sales registered 15,029 tons on August 10 and the trade volume reached 100 percent, meaning whatever was put on sale by the state was sold out.

Average grade of the traded cotton was 3.35, with average length of 28.43 mm. Weighted transaction price was 18,208 Yuan / ton and when converted into the trade price of cotton grade 328, it came to 18,318 Yuan / ton (net weight).

The highest bid was 18,700 Yuan/ ton on the day, with average grade at 328 and the lowest price was 17,470 Yuan / ton on the day.

Fibre2fashion News Desk - China

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