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Domestic & global cotton prices flare-up in April

19
May '10
In April, average purchase price of seed cotton (grade 3) was 3.76 Yuan / kg in inland, up 0.09 Yuan / kg or 2.5 percent from the previous month. Landed mill price of lint cotton (standard grade) averaged 16,201 Yuan / ton, up 591 Yuan / ton or 3.8 percent from the previous month.

May contract averaged 17,082 Yuan / ton in electronic matching in National Cotton Exchange Market, up 542 Yuan / ton or 3.3 percent from the previous month; settlement price of May contract in Zhengzhou cotton futures market was 16,531 Yuan / ton, up 160 Yuan / ton or one percent from the previous month.

April cotton prices in international market rose due to speculation of funds on suspension of cotton exports from India. May contract in New York cotton futures market averaged 81.40 cents / lb in April, up 0.12 cents / lb, or 0.1 percent from the previous month.

Imported cotton (M level) at Chinese ports averaged 88.19 cents / lb, up 0.15 cents / lb, or 0.2 percent compared with the previous month. When converted and calculated on basis of 1 percent tariff, it stood at 15,546 Yuan / ton, 655 Yuan / ton lower than domestic market price.

When calculated and converted on the basis of sliding tariffs, the; the imported cotton landing cost came to 15,966 Yuan / ton, 235 Yuan / ton lower than domestic market price.

Fibre2fashion News Desk - China


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