Cotton futures at China ZCE futures market mostly settled higher on Friday, following the positive push from Nybot overnight. The most active contract CF701 opened higher at 13545 yuan and settled at 13530 yuan, up 35 yuan from the previous session, following a trade range between 13595-13465 yuan.
Trade volume extended to 8490 lots and open interest stood 15386 lots.
Leading contracts opened higher on overnight push from Nybot in which Dec hit 4-week high, but liquidation from the long side dragged the market lower from its earlier rally, and finally settled below the session's average with trade volume of leading contracts enlarged.
On October 27, from the domestic cotton market, China national cotton index Cncotton A quoted at 13283 yuan per ton, down 3 yuan than the previous day; and Cncotton B listed at 12828 yuan per ton, less 1 yuan from yesterday; HZCE cotton in grade 229 offered at 13225 yuan, up 25 yuan below last session.
On domestic textile fiber market, polyester staple fiber quoted at 11300 yuan per ton, same as Thursday; and Rayon staple fiber listed at 14050 yuan, equal to yesterday.
On domestic yarn market, OE10S finished at 12995 yuan, down 10 yuan; C32S priced at 18835 yuan, less 20 yuan comparing to the prior day; JC40S quoted at 23730 yuan, down 30 yuan; TC45S closed at 18040 yuan, down 20 yuan.
One lot is equivalent to 5 metric tons.
One US Dollar equals about 7.90 yuan.
Fibre2fashion, News Desk - China
marketing@alchempro.com
