China: State Reserve results

Of today’s catalogue of 29,683.5 tonnes (including 6,278 from Xinjiang), the quantity sold was roughly 25,414 tonnes, equivalent to 85.60 percent. Sales comprised around 1,533 tonnes from the 2011/12 crop, 9,657 from 2012/13 and 14,223 from 2013/14.

The highest price paid was 16,750 yuan per tonne, and the lowest 13,110. The average, adjusted to a Type 3128 basis, was 15,332, which is 18 yuan higher than the previous session, and 698 yuan above this week’s base price.

Cumulative sales to date are now over 2.32 million tonnes, representing 67.80 percent of the available running total.

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