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Cotton Prices Fluctuated In China As Currency Gains

5 Jan 2017 5:03 pm
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MUMBAI (Commoditiescontrol) – Cotton prices fluctuated in China today seeing lackluster spot trades and currency gaining against the US$. In Shandong, self-lifting prices for Xinjiang-origin grade-2128/3128 cotton were at 16.10 Yuan a kg (US$2.32 a kg) (gross weight), while those for non-Xinjiang-origin materials were at 15.60-15.70 Yuan a kg (US$2.25-2.26 a kg, up US cent 1 on the day).

Imported cotton prices jumped further for the day. Self-lifting offers for Uzbekistan-origin SM cotton (loading in January/March) gained at 16.76 Yuan a kg (US$2.42 a kg, up US cents 6 on the day) under sliding duties and rose by 437 yuan/ton to 16.02 Yuan a kg (US$2.31 a kg, up US cents 7 on the day) under 1% in-quota tariff respectively.

Cotton yarn prices held stable amid lukewarm sales. Conventional 32S and 40S saw sound trades, with producers reporting 10-15 days’ worth of inventory. PC yarn 32s and 45s also saw decent demand.

USD = RMB 6.9307

(By Commoditiescontrol Bureau; +91-22-40015522)

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