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Volume of Indian cotton to rise at Chinese port warehouses

27
Dec '11
According to reports from some cotton traders as of mid-December, the quantity of foreign cotton entering bonded warehouses at ports are growing.

The volume of Indian cotton is expected to increase significantly in January and February. This has meant many bonded warehouses have increased their storage price by 10-15 percent in recent days.

In the previous week, foreign traders at Qingdao Port made offers for Indian cotton variety Shankar-6 at 92-93 cents / lb (L/C at 90 days) for shipment in January or February 2012, but actual transaction price fell to 90 cents / lb.

Australian cotton SM1-5/32" stood at 109-110 cents / lb for shipment in April / May, but the lowest price for one order was transacted around 104.5 cents / lb.

High-grade Australian and US cotton see prevailing phenomenon of higher offers but lower price in actual transactions.

Fibre2fashion News Desk - China


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