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Half of targeted cotton auction plan completed
09
Sep '10
China released 15,068 tons cotton reserves on September 7 and all of it was traded by conclusion of the day. The weighted transaction price was 18,902 Yuan / ton, up 350 Yuan over the previous day.

As of September 7, the state made available 305,595 tons from the date the auctions began, of which, actual transactions stood at 304,595 tons or 99.7 percent of the total volumes put up. The cumulative volume also accounted for 50.77 percent of the release program.

Average length of all transacted cotton reserves was 28.33 mm; weighted average price was 17,953 Yuan / ton, which when converted in to price of grade 328 variety of cotton stood at 18,290 Yuan / ton (net weight).

Among all the cotton reserves that were traded, the highest intraday price was 19,680 Yuan / ton (net weight) and the minimum price was 18,010 Yuan / ton (net weight).

Fibre2fashion News Desk - China

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