China: ZCE lower

Zhengzhou cotton futures settled with losses of between 70 and 280 yuan per tonne across the board. May dropped by 70 yuan, while September declined by 180 yuan, resulting in a widening of the spread between the two months by 110 yuan, to 300 yuan (May premium).

Turnover rose by 160,088, to 337,774 contracts. Open interest decreased by 15,595, to 470,659 contracts.

At the close of business, the top 20 brokers were holding 325,319 long positions (-2,798), and 322,471 short positions (-9,423).

The certified stock was reduced by two, to 17,026 lots (of 40 tonnes).

Posted in: Cotlook Headlines