China Cotton Index edges slightly lower

A downward correction continues to the China Cotton Index. Today’s value was nine yuan less than yesterday, at 17,518 yuan per tonne (basis Type 3128B), equivalent to 129.52 US cents per lb. Altogether the Index has been adjusted lower by 1,953 yuan (slightly over ten percent) since March 4, when the current decline commenced. The Index is now at its lowest level since June 1, 2010.

Type 2227B decreased today by three yuan, to 16,353 yuan per tonne (120.90 US cents per lb) and Type 2129B by 56 yuan, to 18,399 yuan per tonne (136.03 US cents per lb).

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Posted in: Cotlook Headlines