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Cotton transactions in e-market rise
03 Dec '10
1 min read
Transactions through electronic matching trade market on China National Cotton Exchange (CNCE) reached 15,840 tons an increase of 2,880 tons compared with the previous day.
The e-match market extended gains from the previous day, as the market was optimistic over news of a decline in production and tight supply, as well as reduced inventory of spinning enterprises.
Nearby month contract MA1012 had no transaction; the most active contract MA1103 closed at 25,050 Yuan/ ton, up 455 Yuan, trade volume slightly enlarged, but order volume continued to decline.
MA contracts rose across the board by 300-400 Yuan, to close at about 25,000 Yuan per ton, the lowest level was set by MA1103 at 24,710 Yuan, the maximum price was created by contract MA1101 at 25,890 Yuan.
On December 1, cotton price index in China fell 84 Yuan to 26,164 Yuan.
The e-match market extended gains from the previous day, as the market was optimistic over news of a decline in production and tight supply, as well as reduced inventory of spinning enterprises.
Nearby month contract MA1012 had no transaction; the most active contract MA1103 closed at 25,050 Yuan/ ton, up 455 Yuan, trade volume slightly enlarged, but order volume continued to decline.
MA contracts rose across the board by 300-400 Yuan, to close at about 25,000 Yuan per ton, the lowest level was set by MA1103 at 24,710 Yuan, the maximum price was created by contract MA1101 at 25,890 Yuan.
On December 1, cotton price index in China fell 84 Yuan to 26,164 Yuan.
Fibre2fashion News Desk - China
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