After trading near 103 cents/lb for much of September, the A Index dipped below 100 cents/lb on September 21. Since then, it climbed to levels as high as 120 cents/lb.

The Chinese Cotton Index (CC Index 3128B) did not decrease like NY/ICE futures or the A Index in late September, but values moved sharply higher in recent trading nonetheless. Since late September, the CC Index increased from 128 to 153 cents/lb. In domestic terms, prices increased from 18,100 to 21,700 RMB/ton. The RMB was relatively stable against the dollar over the past month, holding near 6.46 RMB/USD, as per the Cotton Incorporated report.

Indian spot prices (Shankar-6 quality) were comparatively stable. Increases since late September were from 95 to 99 cents/lb. In domestic terms, values increase from ₹54,500 to ₹58,400 per candy of 356 kg each. The INR weakened slightly against the dollar, from ₹73 to ₹75 per USD over the past month.

Volatility in Pakistani spot prices resembled that in other markets outside India. In international terms, values fell from over a dollar in early September to as low as 91 cents/lb late in the month. More recently, prices have been as high as 105 cents/lb. In domestic terms, prices increased from 12,700 to 14,400 PKR/maund (37.32 kg). The PKR weakened slightly against the dollar over the past month, from 168 to 170 PKR/USD.

Fibre2Fashion News Desk (KD)