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China'cotton distributing, the market remains sluggish

China'cotton distributing, the market remains sluggish Source:
Date: 29-01-2013
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On14th of January, a long-awaited cotton polishing storage was officially launched, reserve price was19,000 yuan / ton ( standard ). This time using the countdown-sell for auction transaction, namely the market announced reserve price, the qualified buyers independent hiked up the price, according to the principle of price and time priority, the deal made at the highest price within the time stipulated.

For the first day of cotton distributing, the market remained sluggish, the price was not ideal. According to relevant data, on 14th, China Cotton Reserves Corporation planned to sell 38062.2654 tons by nominal quotation, actual transactions for 20186.8501 tons, turnover rate was 53.04%, average transaction level was 4.28, average transaction price was 18405 yuan / ton, T328 converted into 19046 yuan / ton, 232 yuan / ton lower than cotton price B index ( CNCottonB ),which was19278 yuan / ton.

Cotton distributing had a limited pressing for market. Cotton price had a little dropping space. “ Although the confidence of textile business in the market outlook become slightly better, the purchase demand hardly to improve in a short time. The huge domestic cotton inventory is still a suppression of the market. Cotton storage policy is coming to a close at the end of March. Policy supporting will be reduced. ”
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