China's weekly average cotton price index was at 13,539 yuan per ton; the weekly average cotton price of commodity cotton electronic trade of nearby contract in National Cotton Trade Market was at 13,893 yuan per ton (down 88 yuan per ton). The weekly average price of China's cotton procurement was at 13,171 yuan per ton (down 54 yuanper ton); the weekly average price of nearby contract at Zhengzhou Cotton Futures Exchange was at 14,198 yuan per ton (up 113 yuan per ton).
The weekly average price of nearby contract of New York cotton futures was at 60.27 cents per lb (down 2.88 cents per lb); weekly average price of Cotlook A index was at 69.07 cents per lb (down 1.21 cents per lb).
In the just past week, international cotton prices fell substantially, while domestic price gave a calm performance, although appeared rather weak. Acquisition cost of lint dropped further, cottonseed price continued to rise significantly.
Weekly average price of standard unginned cotton was at 6.2 yuan per kg, up 0.08 yuan per kg, the highest level since new cotton arriving into market.
The weekly average price of Cotlook A for Asia was at 69.07 cents per lb. Calculated on the price (the weekly average exchange rate at 7.4233) against 1 percent import tariff, the delivery price of imported cotton was at 12,901 yuan per ton (down 229 yuan per ton), 638 yuan per ton below China cotton price index; Based on sliding tariff, the delivery price of imported cotton was at 13,540 yuan per ton (down 240 yuan per ton), one yuan higher than China cotton price index. So, domestic growth price under sliding tariff is actually in accord with international price.
From January to October this year, the year-on-year increase of China's CPI rose from 2 percent to 6.5 percent, clothing price declined from 0.5 percent to -1.3 percent on year, cotton price of standard level gained from -14 percent to 3.5 percent on year. It is obvious that cotton price has increased significantly this year, while clothing price has declined.
Fibre2fashion, News Desk - China
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