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Domestic Cotton Prices Remain Off Seasonal Highs
Source: globecotnews Date: 2007-12-04
China's domestic cotton prices have turned slightly weaker, with T328 delivered-the-mill prices falling to 13,500 - 13,700 yuan per ton. Prices at warehouses in Xinjiang Province continue to hold near the same level. This weakness in lint has occurred despite the record prices of by-products (cottonseed oil, cottonseed meal and linters). Lint cotton prices have remained substantially below their August highs. T328 prices peaked at an average price of over 14,500 yuan per ton in August before plunging to near 13,000 yuan per ton shortly before the October National Day Holiday and have since stabilized at 13,500 to 13,700 yuan per ton, delivered the mill -- this is equivalent to 82.75 to 84.00 U.S. cents per pound.
