China Cotton Market Daily (10 Nov 2009)

CCF price
•11/10 CCF RMB price for type 329: 14220yuan/mt, +40yuan/mt
•11/10 CCF USD price for type 329: 94.50cent/lb
•11/09 Cotlook A: 67.41cent/lb, +1.07cent/lb

China cotton
Seed cotton:
Traded price for cotton seed strengthened recently, which sparked the price for seed cotton. In Shandong and Hebei, price climbed up to 7.20yuan/kg (lint percentage at 40%), and the higher value was 7.0yuan/kg. As the price for seed cotton remained high and supply was insufficient, many cotton enterprises planed to pull out of market.

Imported cotton
CIF offer for foreign cotton hiked moderately today. The offer for U.S cotton, Australian cotton went up by 1.00-1.25cent/lb, while the offer for Central Asia cotton and African cotton were up by 0.75-1.00cent/lb. The offer for Indian cotton increased slightly by 0.25cent/lb while the offer for long-stable cotton kept steady.

Offer for Mexico cotton Type 228 was 76.5cent/lb (ex-works, net weight, equal to 13700yuan/mt under the sliding scale duty . More foreign cotton was expected to arrive at port in the future.