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Cotton transactions on CNCE decline
20
Oct '10
On October 19, transactions through electronic matching trade market on China National Cotton Exchange (CNCE) reached 38,080 tons, down by 11,540 tons compared with the previous day.

Cotton contracts opened higher on the day, prices fluctuated during the session, and closed higher across the board, forward month contracts gained over nearby month contracts.

Nearby month contract MA1010 closed at 26,125 Yuan, up 254 Yuan, the main contract MA1103 closed at 25,000 Yuan, up 279 Yuan; contract MA1101 closed at 24,500 Yuan to set the lowest level and contract MA1011 closed at 26,400 Yuan to clock the highest price.

MA contracts rose across the board, of which, contract MA1012 rose 409 Yuan to 25,850 Yuan / ton to achieve the largest gain on the day and contract MA1011 topped all contracts at 26,196 Yuan / ton.

On October 19, cotton price index in China gained 270 Yuan to 24,526 Yuan / ton. On October 19, the central parity of RMB exchange rate against one dollar on interbank foreign exchange market was 6.6563 Yuan.

Fibre2fashion News Desk - India

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