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Prices continue surge at cotton exchange
03
Nov '10
On November 2, transactions through electronic matching trade market on China National Cotton Exchange (CNCE) reached 56,700 tons, an increase of 740 tons compared with the previous day.

The US dollar weakened on November 1, commodities outside cotton market rose, Chinese cotton futures too increased significantly, stimulating ICE cotton to rise rapidly to its daily limit on Monday.

Match contracts opened higher on the day in China, the market went through shocks, finally closed higher. Near month contract MA1011 closed at 30,100 Yuan / ton, up 635 Yuan from the previous day, main contract MA1104 closed at 29,345 Yuan / ton, up 484 Yuan.

The lowest price was witnessed by contract MA1104 at 29,000 Yuan / ton and the highest price was recorded by contract MA1011 at 30,300 Yuan / ton.

On November 2, cotton price index in China gained 339 Yuan to 27,405 Yuan / ton. On November 2, the central parity of RMB exchange rate against one US dollar on interbank foreign exchange market stood at 6.6925 Yuan.

Fibre2fashion News Desk - China

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