China Cotton Market Daily (27 Oct 2009)
Published: 27 Oct 2009 01:20:09 PSTSeed cotton: The domestic cotton seed price hiked slightly this morning, as the downstream bought greatly. In northwest Shandong,the price for grade3 hiked again to 7.00yuan/kg(lint percentage at 40%),equivalent to 13900yuan/mt for type 329 ginned cotton.
Ginned cotton: The offer for type329 ginned climbed up to 14100-14300yuan/mt (gross weight,ex-warehouse).
Imported cotton
The overall price maintained steady today. But the long-stapled cotton hiked slightly by 0.50-1.00cent/bl.for example, the price for Egypt grade GIZA88 hiked to 126cent/bl (sliding scale duty at 22300yuan/mt).
Today the offer for Indian cotton increased by 0.25cent/bl, while Indian grade S-61-5/32 was up to 71.5-72.5cent/bl (sliding scale duty at 13300-13450yuan/mt)
However, Pakistan appealed to restrain their export of cotton and yarn recently, though its low price was welcomed by China mills.
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