Cotton transactions at electronic market down

17 Aug '10

2 min read

Transactions through electronic matching trade market on China National Cotton Exchange (CNCE) reached 29,920 tons on August 16, down 1,400 tons compared with the previous day and all transactions were under MA contracts.

October contract of ICE cotton futures closed at 87.49 cents / pound, up 74 points, the most active December contract closed at 84.18 cents / pound, up 63 points on August 13.

Opening level of the match market was uneven on August 16, but finally all MA contracts closed higher, forward months performed stronger than nearby months. MA1008 contract closed at 19,245 Yuan, up 95 Yuan.

MA1010 contract closed at 17,545 Yuan / ton, up 66 Yuan; match transactions slightly reduced, order volume continued to increase. Contract MA1011 closed at 16910 Yuan / ton (328B), to set the lowest level, contract MA1008 closed at 19245 Yuan / ton to set the maximum price.

Landed mill price of Chinese cotton price index in grade 229 was 18,617 Yuan / ton on the day, 558 Yuan less than the average price of nearby month contract MA1008.

As of August 15, business cotton on China National Cotton Exchange (CNCE) registered 27,005 tons, 1,326 tons less than the previous day. On August 16, cotton price index in China rose one Yuan to 18,139 Yuan / ton.

Fibre2fashion News Desk - China

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