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Wei Qiao Group hikes arrival factory cotton price

13
Mar '07
It is learned that Shandong Wei Qiao Group has raised the arrival factory price of cotton in grade 3 to 12900 yuan per ton from 12800 yuan before the spring festival. Under its impact, textile enterprises in Shandong all have their prices increased about 100 yuan, but cotton enterprises are not actively responded.

Nevertheless, the price lift by Wei Qiao has made the industry to speculate that cotton price will go up in the coming days.

Following is the review of part of the price adjustment by Shandong Wei Qiao Group this year:

On March 7, 2007, arrival factory price of cotton in grade 3 rose to 12900 yuan per ton from 12800 yuan before the spring festival.

On January 15, 2007, arrival factory price uplifted to 12800 yuan per ton, up 200 yuan per ton. Payment term also changed into cash settlement from the original 40 days settlement.

On October 15, 2006, purchase price of cotton in grade 3 declined to 12700 yuan per ton, a drop of 100 yuan with all payment to be made after 20 days.

Fibre2fashion, News Desk - China


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