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Spread between cotton & PSF up in Oct
24
Nov '10
The spread between inland cotton (standard grade) and polyester staple fiber was 12,548 Yuan / ton in October, 3,464 Yuan larger than the previous month.

Cotton prices rose sharply rose after entering October, which led to price hikes in products of the downstream sectors.

The average price of cotton carded yarn 32s stood at 32,512 Yuan / ton in October, up 5,086 Yuan / ton, or 18.5 percent from the previous month.

The average price of polyester staple fiber was 12,223 Yuan / ton, an increase of 1,836 Yuan / ton, or 17.7 percent from the previous month.

The average price of imported cotton at Chinese ports in October was equivalent to 22,914 Yuan / ton, when being calculated against 1 percent tariff, up 4,412 Yuan / ton from the previous month, or an increase of 23.8 percent.

The state released 1 million tons of cotton reserves from August 10 to October 22, which effectively increased market supply.

Fibre2fashion News Desk - China

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