Zhengzhou cotton futures retreat further
Cotton futures on the Zhengzhou commodity Exchange have closed with losses for a third consecutive day, losing over one hundred yuan per tonne in all contract months. May declined by 180 yuan, while September fell by 175, resulting in a further broadening of the spread between the two months by five yuan, to 455 yuan (September premium).
Turnover rose by 26,656 contracts to 379,900 (counting both the sale and the purchase). Open interest decreased by a further 19,174 contracts, to 418,752.
At the close of business, the top 20 brokers were holding 116,599 long positions (2,041) and 165,021 short positions (-13,275).
The certified stock has continued to rise. Today’s figure of 2,565 is 161 lots more than yesterday.
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