Cotton e-matching trades fall on Dec 30

31 Dec '10

2 min read

On December 30, transactions through electronic matching trade market on China National Cotton Exchange (CNCE) reached 9,900 tons, down, 10,940 tons compared with the previous day.

ICE cotton futures March contract fell sharply again for the fifth consecutive day and the cumulative drop of the five days totaled to 1869 points. March contract closed at 140.43 cents / lb, down 392 points; May contract closed at 131.68 cents / lb, down 137 points.

E-matching market opened lower but moved higher amid shocks on the day, and closed slightly higher by about 100 Yuan per ton, close level of contracts returned back to about 27,500 Yuan / ton.

The main contract MA1103 closed at 27,450 Yuan, up 66 Yuan, nearby month contract MA1101 closed at 27,500 Yuan, down 18 Yuan; daily trade volume largely shrank, order quantity reduced.

Contract MA1103 set the lowest price at 27,305 Yuan; while contract MA1101 hit the highest price at 27,610 Yuan on the day, the main contract MA1106 topped all the contracts at the average price of 27,549 Yuan.

On December 30, cotton price index in China rose 7 Yuan to 27,503 Yuan / ton. On December 30, the central parity of RMB exchange rate against one US dollar on interbank foreign exchange market stood at 6.6229 Yuan.

Fibre2fashion News Desk - China

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