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Cotton prices scale new heights

18
Nov '09
A purchase made in very big volume by a Shandong based textile mill has provided a push to cotton grade-3 to help it cross 14,500 Yuan per ton, which has also resulted creating a flutter in the cotton markets and has led to renewed purchase enthusiasm.

The maximum purchase price of seed cotton in Shandong has reached to 7.50 Yuan per kg, though the quantity for acquisition is very less. Selling price of lint cotton in Hebei Province has also begun to rise.

Most textile enterprises are buying less spot cotton and are mainly waiting for the release of state cotton reserves. In addition, south China witnessed rain and snow in the past week, due to which cotton buying and selling was impacted to a certain extent.

On November 16, China Cotton Index (CC Index 328) rose to 14,236 Yuan per ton and landed mill price of cotton grade 429 averaged at 13,988 Yuan per ton.

Fibre2fashion News Desk - China


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