Last week the average futures price was US$1,753/MT at CZCE, up by 2.22% from last week’s and up by 2.64% from the past two weeks. (In terms of RMB, the price is RMB11,985/MT, up by 2.22% from last week and up by 1.02% from the past two weeks).
Meanwhile, the weekly average futures price at New York is US$940/MT, up by 1.93% from last week’s and up by 8.07 % from the past two weeks. Cotton price difference between CZCE and New York was US$814/MT, amounting to 86.57% of cotton price in New York. (Figure 12-14)
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