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Offers for imported cotton decline at Chinese ports

01
Jun '12
Offers of imported cotton at China's main ports continued to decline and fell 0.75 cents on May 31.

Although China may introduce more economic stimulus, the pressure brought by European debt crisis to the market cannot be alleviated in the short term. So, foreign cotton still faces downward pressure.

Cotton grade SM1-1/8" US C/A cotton was quoted at 89.35 cents / lb which when converted by sliding duty, is equivalent to 14,917 Yuan / ton.

US E/MOT cotton was quoted at 87.50 cents / lb which is equivalent to 14,626 Yuan / ton. Australian cotton was quoted at 93.35 cents / lb, equivalent to 15,546 Yuan / ton.

Uzbekistan cotton was quoted at 94.85 cents / lb, equivalent to 15,778 Yuan / ton and West African cotton was quoted at 89.35 cents / lb, equivalent to 14,917 Yuan / ton.

Indian cotton was quoted at 85.85 cents / lb, equivalent to 14,367 Yuan / ton. US cotton grade E/MOTM1-3/32" was quoted at 85.15 cents / lb, which is equivalent to 14,252 Yuan / ton.

Fibre2fashion News Desk - China


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