Cotton futures at China ZCE futures market closed firmly higher on Thursday, mainly encouraged by the overnight upswing from Nybot.
The most active contract CF701 opened at 13480 yuan and settled at 13495 yuan, up 50 yuan from the previous session, following a trade range between 13525-13445 yuan. Trade volume rose to 7500 lots and positions stood 15788 lots.
Most leading contracts opened higher mainly driven by a positive close from Nybot overnight. The market extended its gain on buying from the long side after an earlier consolidation.
Price stayed towards the up end of the trade range during the day and closed firmly up. The market turned to be quite active with trading volume expanded.
On October 26, from the domestic cotton market, China national cotton index Cncotton A quoted at 13286 yuan per ton, up 29 yuan than the previous day; and Cncotton B listed at 12829 yuan per ton, up 13 yuan from yesterday; HZCE cotton in grade 229 offered at 13200 yuan, 100 yuan below last session.
On local textile fiber market, polyester staple fiber quoted at 11300 yuan per ton, falling 100 yuan from the previous session; and Rayon staple fiber listed at 14050 yuan, same as yesterday.
On domestic yarn market, OE10S finished at 13005 yuan, down 10 yuan; C32S priced at 18855 yuan, less 40 yuan comparing to the prior day; JC40S quoted at 23760 yuan, down 50 yuan; TC45S offered at 18060 yuan, down 30 yuan.
One lot is equivalent to 5 metric tons.
One US Dollar equals about 7.90 yuan.
Fibre2fashion, News Desk - China
marketing@alchempro.com
