Cotton Futures Drives up Spot Market Sentiment
Strong ZCE cotton futures pushes up spot cotton market. Offers for big-baled upcountry cotton type 329B have recovered to 27000yuan/mt, ex-works, gross weight.
In Hebei, prices for seed cotton with lint percentage at 37-38% have climbed up to 11.20-11.40yuan/kg. Growers again start to hold cargoes.
On ZCE cotton futures market, Sep11 opens at 27895yuan/mt, down 135yuan/mt from yesterday’s settlement price.
In Hebei, prices for seed cotton with lint percentage at 37-38% have climbed up to 11.20-11.40yuan/kg. Growers again start to hold cargoes.
On ZCE cotton futures market, Sep11 opens at 27895yuan/mt, down 135yuan/mt from yesterday’s settlement price.
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