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Cotton offers at Chinese ports rise marginally
20 Feb '12
2 min read
Offers of imported cotton at Chinese ports rose marginally amid stability as most varieties increased only by 0.25-0.50 cents / lb.
At present, the spread between domestic cotton and foreign cotton is high. So, textile mills favour imported cotton.
However, procurement by textile mills is limited to those who have orders in hand, so overall demand is still weak in the market.
Analysts say that cotton price looks difficult to rise sharply, if cotton demand does not perk up in the near future.
SM1-1/8" US C/A cotton was quoted at 111.10 cents / lb, which is equivalent to 18,365 Yuan / ton, when converted in to local currency by means of sliding duty.
US E/MOT cotton was quoted at 108.10 cents / lb or 17,891 Yuan / ton. US cotton grade E/MOT M1-3/32" was quoted at 105.60 cents / ton or 17,499 Yuan / ton.
Uzbekistan cotton was quoted at 114.85 cents / lb or 18,960 Yuan / ton. West African cotton was quoted at 106.35 cents / lb or 17,605 Yuan / ton.
Indian cotton was quoted at 102.10 cents / lb or 16,941 Yuan / ton and Australian cotton was quoted at 111.85 cents / lb or 18,487Yuan / ton.
At present, the spread between domestic cotton and foreign cotton is high. So, textile mills favour imported cotton.
However, procurement by textile mills is limited to those who have orders in hand, so overall demand is still weak in the market.
Analysts say that cotton price looks difficult to rise sharply, if cotton demand does not perk up in the near future.
SM1-1/8" US C/A cotton was quoted at 111.10 cents / lb, which is equivalent to 18,365 Yuan / ton, when converted in to local currency by means of sliding duty.
US E/MOT cotton was quoted at 108.10 cents / lb or 17,891 Yuan / ton. US cotton grade E/MOT M1-3/32" was quoted at 105.60 cents / ton or 17,499 Yuan / ton.
Uzbekistan cotton was quoted at 114.85 cents / lb or 18,960 Yuan / ton. West African cotton was quoted at 106.35 cents / lb or 17,605 Yuan / ton.
Indian cotton was quoted at 102.10 cents / lb or 16,941 Yuan / ton and Australian cotton was quoted at 111.85 cents / lb or 18,487Yuan / ton.
Fibre2fashion News Desk - China
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