Cotton Offers Recover Further
Prices for seed cotton continue to rebound in upcountry. In Shandong, higher purchasing price for seed cotton with lint percentage at above 38% has reached 12.40-12.80yuan/kg.
Spot cotton offers are raised further. In Hebei, offers for inferior cotton type 329 have mostly recovered to 27000yuan/mt and above. However, mills’ purchasing ideas are still unchanged at 26500-26800yuan/mt.
On ZCE cotton futures market, Sep11 opens at 27795yuan/mt in the morning, up 65yuan/mt from yesterday's settlement price.
($1=CNY6.66)
Spot cotton offers are raised further. In Hebei, offers for inferior cotton type 329 have mostly recovered to 27000yuan/mt and above. However, mills’ purchasing ideas are still unchanged at 26500-26800yuan/mt.
On ZCE cotton futures market, Sep11 opens at 27795yuan/mt in the morning, up 65yuan/mt from yesterday's settlement price.
($1=CNY6.66)
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