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Cotton prices up in February

09
Mar '10
China's cotton spot market saw few transactions in February, due to the spring holidays and trade was light for most of the month. Spot price was relatively stable in early February, but rose by 200-300 Yuan per ton, driven by rising prices in foreign futures and spot goods.

In the month, international cotton spot prices rose sharply, though the gain was less than futures, it still climbed to the highest point in nearly two years. As international cotton prices continued to rise, the price level under sliding tariff surpassed domestic cotton prices.

By the end of the month, average price of China Cotton Index (CCIndex328) stood at 14,990 Yuan per ton, up 91 Yuan, compared with the end of the previous month. Cotlook A index stood at 85.55 cents per lb by the end of the month, up 10.2 cents from the end of the previous month.

By the end of the month, landing port price of American Cotton (E / MOT M-class) came to 88.15 cents per lb, up 10 cents from the end of the previous month.

By the end of the month, cotton futures contract 005 at Zhengzhou cotton market settled at 16,070 Yuan per ton, up 800 Yuan compared to the end of the previous month. Contract price of e-match MA1005 concluded at 15,999 Yuan per ton, up 530 Yuan from the previous month.

By the end of the month, May futures in New York futures market closed at 82.46 cents per lb, up 11.83 cents lb from the end of the previous month.

Fibre2fashion News Desk


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