China's lint spot market supply was tight on October 27, leading to an overall price rise and trade volumes in the market were slightly higher than on the previous day. Most textile enterprises appropriately increased their purchasing price, due to the price adjustment in most of the cotton markets.
On the day, China Cotton Index (CC Index 328) closed at 13,921 Yuan per ton, up 64 Yuan per ton from the previous day; CC Index 229 stood at 14,262 Yuan per ton, up 44 Yuan per ton, while CC Index 527 grade closed at 12,831 Yuan per ton, up 30 Yuan per ton.
Cotton lint prices in the Shandong region remained steady, local textile factories were not willing to take huge positions, instead preferring to maintain a hand to mouth inventory. In Shanxi, the current hike in cotton prices was unbearable to local mills, so they were not active in buying cotton and kept a wait and watch attitude.
In Hunan, Hubei, Anhui and other places, cotton price continued to rise and demand from large mills was fair, but small cotton factories mostly withheld sales and kept a watch on developing trends. In Zhejiang, prices increased marginally and trade volume was fair.
Fibre2fashion News Desk - India
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