China: State Reserve auction

The quantity offered for sale today was 29,401 tonnes, comprising 14,749 in the first (morning) session, and 14,652 in the second (afternoon) session. Of the catalogue, Xinjiang cotton accounted for 9,638 tonnes, and the remainder was from other provinces (19,763 tonnes).

In today’s morning session, all lots on offer found buyers for the second consecutive day. The highest price paid was 15,840 yuan per tonne (for cotton from the 2012/13 season), down by 70 yuan from the previous day.

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