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Cotton reserves auction attracts active bidding
14
Sep '10
China released 20,001 tons cotton reserves on September 13 and the bidding activities were very active. Average length was 28.20 mm and weighted average price was 18,930 Yuan / ton.

348 enterprises in total, participated in the auction, 91 enterprises actually concluded transactions on the day.

According to statistics, as of September 10, 360,735 tons of cotton reserves had been released in to the market, however, transactions were registered for 359,735 tons, with the total release quantity till date, accounting for 60 percent of the release plan.

Average length for all the auctioned cotton was 28.32 mm and weighted mean price was 18,092 Yuan / ton.

The highest trade price was 19,600 Yuan / ton (net weight) on September 13 and the lowest price was 17,830 Yuan / ton (net weight).

Fibre2fashion News Desk - China

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