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2010-12-8
AS ZCE cotton rebounded continuously recently, more cotton enterprises start to procure seed cotton recently.
Spot cotton prices are also steadier. For Xinjiang type 329, lower prices at 27500yuan/mt disappear and many cotton enterprises adjust their offers to 28000yuan/mt.
Upcountry cotton prices maintain steady on the whole. Small cotton enterprises still quote inferior grade 4 cotton at 25500-25800yuan/mt.
On ZCE futures market, Sep11 opens at 27000yuan/mt, flat to yesterday's settlement price.
($1=CNY 6.66)
source:CCFGroup.com
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