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Indian cotton most competitively priced at Chinese ports

11
May '12
Offers of imported cotton at China's main ports continued to fall on May 9, although marginally.

It is learnt that cotton spot market continues to remain calm and volumes will find it difficult to pick up, prior to allotments of cotton import quotas.

At present, Indian cotton is the most cost-effective in terms of prices and it is widely expected that it may be the first choice of importers once quotas are issued.

Analysts express that future economic uncertainty in the EU will continue to bring pressure to the market.

Cotton grade SM1-1/8” US C/A cotton was quoted at 107.10 cents / lb. When converted by adding sliding duty, it was equivalent to 17,705 Yuan / ton.

US E/MOT cotton was quoted at 100.10 cents / lb and was equivalent to 16,609Yuan / ton. Australian cotton was quoted at 106.85 cents / lb, which is equivalent to 17,665 Yuan / ton.

Uzbekistan cotton was quoted at 118.85 cents / lb, equivalent to 17,991 Yuan / ton and West African cotton was quoted at 100.10 cents / lb, equivalent to 16,609 Yuan/ ton.

Indian cotton was quoted at 96.35 cents / lb which is equivalent to 16,009 Yuan / ton and US cotton grade E/MOTM 1-3/32" was quoted at 97.75 cents / lb or 16,239Yuan / ton.

Fibre2fashion News Desk - China


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