China Cotton Market Daily(4 Feb 2010)
Published: 04 Feb 2010 01:36:21 PST
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·2/4 CCF RMB price for type 329: 15070 yuan/mt, -5.00yuan/mt
·2/4 CCF USD price for type 329:100.15cent/lb
·2/3 Cotlook A: 76.05cent/lb, +0.90cent/lb
China cotton
Sales of domestic cotton were slack today. Most cotton enterprises
stopped selling, waiting for cotton market situation after spring
festival. Cotton price generally kept stable and value for type 328
stabilized at 15100-15200yuan/mt (net weight, ex-warehouse).
A few small-scale cotton enterprises still traded at a low price for
sales promotion. In Jiangsu, type 328 was traded at 14800yuan/mt, down
by 100yuan/mt.
Import cotton
CIF offer for foreign cotton continued to hike today. Offer for U.S.
cotton, Australian cotton and Mexico cotton climbed up by 0.50cent/lb
while offer for African cotton, Indian cotton and Central Asian cotton
went up by 0.25cent/lb. Offer for long-staple cotton kept stable.
Offer for foreign cotton have been up for two days. One the whole,
offer for Indian cotton gained greatly, which hiked from 75cent/lb
early this week to 76.5-77.0cent/lb for S-6 1-1/8.
As spring festival is coming, sales of warehouse foreign cotton were
slack. Offer for SM 1-1/8 Uzbekistan cotton was 79.5cent/lb (net
weight, ex-warehouse). Mills weren't active to purchase as sliding
scale duty quotas haven’t been allocated so far.
Source:
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