On July 22, transactions through electronic matching trade market on China National Cotton Exchange (CNCE) reached 16,840 tons, an increase of 2,140 tons compared with the previous day and all of the transactions were under MA contracts.
The cotton matching market moved higher amid volatility, nearby month contracts rose while forward contracts weakened. Nearby month contact MA1008 closed at 18,852 Yuan, up 94 Yuan.
The most active contract MA1009 closed at 17,760 Yuan, up 56 Yuan. Contract MA1012 sank to 16,110 Yuan (328B) to set the lowest price, while contract MA1008 hit 18,920 Yuan to touch the highest level amongst all contracts.
Landed mill price of Chinese cotton price index 229 was 18,727 Yuan / ton on the day, 125 Yuan less than the average price of nearby month contract MA1008. On July 22, cotton price index in China fell 12 Yuan to 18,278 Yuan / ton.
Fibre2fashion News Desk - India