Cotton Sales Warms up, More discounts Seen

With textile mills gradually starting purchasing cotton for Spring Festival Holiday production, some cotton enterprise also started promoting sales. In order to get cash, more of them provided discounts in trading. For Xinjiang cotton, some big mills raised their purchasing price for cotton type 329 to 28200-28500yuan/mt, delivered.

On ZCE futures market, cotton opens low and trends upward. In the middle session, May11 closes at 27570yuan/mt, down 75yuan/mt. Sep11 closes at 27610yuan/tm, down 55yuan/mt.

($1=CNY6.62)

source:CCFGroup.com