As ICE cotton surged sharply Wednesday, ZCE cotton opens high in the morning but trends down. In the middle session, May11 settled at 25590yuan/mt, down 165yuan/mt from yesterday’s closing price. Sep11 settled at 25590yuan/mt, down 290yuan/mt from yesterday’s closing price.

On spot market, the purchasing price of seed cotton with lint percentage at 35-36% has fallen to 10.0-10.3yuan/kg.

Offers for Xinjiang cotton continue to fall. Type 229 are mostly offered at 29000-29300yuan/mt, ex-Urumchi.

source:CCFGroup.com