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Cotton markets display mixed reactions

12
Feb '10
Recently, domestic and foreign cotton futures markets tumbled, spot markets displayed mixed reactions and as Chinese New Year and holiday season is just round the corner, buying and selling in the markets look a bit light.

Zhengzhou cotton market displayed a volatile state being impacted by external environment. Some cotton enterprises increased promotional efforts to boost sales, but textile enterprises were not enthusiastic, spot prices continue to slip down.

On February 5, average purchase price of seed cotton grade 3 in inland 14,262 Yuan / ton down 11 Yuan / ton. The average price for inland standard cotton was 14,916 Yuan / ton, down by 47 Yuan / ton from the previous week, or 0.3 percent.

At Zhengzhou cotton futures market, March contract settled at 15,250 Yuan / ton, up 125 Yuan from the previous week / ton, or 0.8 percent.

At national cotton trading market, the average price of March contract in electronic matching transactions was 15,434 Yuan / ton, up 69 Yuan / ton from the previous week, or 0.4 percent and the settlement price for March contract stood at 14,960 Yuan / ton, down 50 Yuan / ton from the previous week, or 0.3 percent.

Fibre2fashion News Desk - China


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