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Cotton trade through CNCE increases
27
Jan '11
Transactions through electronic matching trade market on China National Cotton Exchange (CNCE) reached 41,860 tons on January 25, increasing 30,680 tons in comparison with the previous day.

ICE March cotton and December cotton futures reached 161.94 cents/lb and 113.74 cents/lb, respectively, on January 24, due to lack of resistance.

Most match contracts opened higher on the day, but closed with mixed levels. The main contract MA1105 closed at 31,050 Yuan / ton, up 293 Yuan / ton, spot month contract MA1102 closed at 30,000 Yuan / ton, down 200 Yuan / ton.

MA1102 fell to 29,000 Yuan / ton, to set the lowest price on the day, while MA1106 registered the highest price of 32,000 Yuan / ton on the day. Intraday trade volume greatly increased, but orders substantially reduced.

Spot month contract MA1102 fell 317 to close at 29,883 Yuan / ton to set the largest decline on the session, while the main contract MA1105 remained at the top over all contracts with an average price of 31141 Yuan / ton.

Cotton price index in China rose 78 Yuan / ton to 28,205 Yuan / ton. The central parity of Yuan / ton exchange rate against U.S. dollar on interbank foreign exchange market was 6.5881 Yuan against one US dollar.

Fibre2fashion News Desk - China

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