China: ZCE trading lower

All contract months on today’s Zhengzhou cotton futures settled with losses of between 35 and 80 yuan per tonne.  September decreased by 65 yuan and the January 2018 contract declined by 70 yuan, resulting in the narrowing of the spread between the two months by five yuan, to 20 yuan (January premium).

Turnover rose by 119,098 contracts, to 252,234 (counting both the sale and the purchase), while open interest increased by 7,652, to 310,546. At the close of business, the top 20 brokers were holding 98,106 long positions (1,585) and 94,127 short positions (2,931).

The certified stock was reduced by a further 84 lots, to 3,655.

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