China Cotton Market Daily (5 Nov 2009)

CCF price
•11/04 CCF RMB price for type 329: 14115yuan/mt, +10yuan/mt
•11/04 CCF USD price for type 329:101.87cent/lb
•11/03 Cotlook A: 69.40cent/lb, +0.00cent/lb

China cotton
Seed cotton:
Due to short supply and firm price, many cotton enterprises paused to purchase and the sales were obviously slack. In Wuhan and Xiangfan, the prevailing price of seed cotton was 7.10yuan/kg (lint percentage at 39-40％, moisture regain at 12-13%).

Ginned cotton:
The offer for type 328 was at 14200yuan/mt (ex-work). And traded price kept at 14100-14200yuan/mt (ex-warehouse). The Xinjiang cotton type229 was generally at 14500yuan/mt (ex-warehouse).

Imported cotton
CIF offer for foreign cotton dropped slightly today. And the offer for U.S cotton and Australian cotton went down by 0.25-0.50cent/lb, while the offer for Central Asia cotton and Africa cotton were down by 0.50cent/lb. The offer for Indian cotton and long-stable cotton kept stable.

According to some cotton traders, the import volume for foreign cotton did not see apparent increase. Gov stopped allocating import quotas, which further prevented import volume from increasing.