China: Zhengzhou cotton futures close with further gains

Cotton futures on the Zhengzhou Commodity Exchange continued to rise in most deliveries, ranging from 25 to 175 yuan per tonne.  The January 2018 contract increased by 45 yuan, while September rose by 25 yuan, resulting in a discount for the January contract of ten yuan over September, 20 yuan less than in the previous day.

Turnover declined by 53,896 contracts, to 180,578 (counting both the sale and the purchase). Open interest decreased by 2,528, to 311,076. At the close of business, the top 20 brokers were holding 83,530 long positions (451) and 119,013 short positions (-1,522).

The certified stock was reduced by a further 33 lots, to 1,286.

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