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Last cotton import quotas to be issued, soon!

30
May '07
For the week from May 18 to 24, the weekly average price of Chinese cotton price index was at 12,961 yuan per metric ton (up 11 yuan per ton).

The weekly average price of near month contracts in cotton commodity electronic transactions of National Cotton trade market stood at 13,109 yuan per metric ton (up 239 yuan per ton).

The weekly average price of China's cotton purchase price marked at 12,382 yuan per metric ton (up 65 yuan a ton); the weekly average price of near month contracts in Zhengzhou Cotton Exchange was 13,187 yuan per metric ton (up 315 yuan a ton).

The weekly average price of near month contracts of New York cotton futures was 49.97 cents per pound (up 1.66 cents per pound); the weekly average price of cotlook A index was 56.19 cents per pound (up 1.36 cents per pound).

Cotlook A index on the week averaged at 56.19 cents per pound. Based on this average price (the average exchange rate was 7.6614 for the said week), under 1 percent tariff, the delivery price for imported cotton at ports was 10,832 yuan per metric ton (up 233 yuan a ton), less 2,129 yuan metric ton than Chinese cotton price index.

Under sliding tariff, the delivery price of imported cotton at ports was 12,520 yuan per metric ton (up 109 yuan a ton), 441 yuan per metric ton lower than China cotton price index.

Recently, cotton supply from local resources is reducing, while Xinjiang cotton stocks in major warehouses are sufficient.

Spot transactions of home produced cotton become more active with prices going up slightly. It is reported that there are more foreign cotton stocks in Bonded Zone warehouse, even some US cotton imported last year. Overall cotton supply seems to be adequate.


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