China’s state cotton auctions crosses one million tonnes sales

At the China’s state cotton auction, all the cotton that was made available was sold out in an indicator of strong demand for the material. China sold 21,700 tonnes of cotton at an auction of state reserves on Tuesday, pushing the total amount sold in its latest rounds of auction now exceeding 1 million tonnes, far more than China sold all of last year.

According to industry analysts it indicates a shortage of high grade cotton in China’s textile sector.

The state reserve cotton was sold at an average price of 12,868 yuan ($1,937.54) per tonne, up from a price of 12,230 yuan at an auction last week, according to information published late on Tuesday on the China cotton industry website cncotton.com.

Despite this, global cotton prices remain subdued due to healthy US crop yields. Benchmark cotton future prices last settled at 64.66 cents per pound and have not recovered from steep price falls in 2010/2011 and again in 2014.

Recent Posts

Swisstulle advances dyeing efficiency with JigMaster

Swisstulle adopted JigMaster for its dyeing and finishing operations, especially for high-quality technical textiles used in fashion and automotive industries.

3 days ago

Birla Cellulose and Circ partner to scale textile recycling

Birla Cellulose, a leader under the Aditya Birla Group, has announced a long-term partnership with Circ, a U.S.-based textile recycling…

3 days ago

CARBIOS unveils enzymatically recycled polyester t-shirt

CARBIOS has collaborated with leading brands Patagonia, PUMA, Salomon etc. to create a groundbreaking polyester garment made entirely from textile…

3 days ago

Yangi launches sustainable fiber-based food tray

Yangi, renowned for its renewable packaging solutions, has launched a fiber-based food tray as a sustainable alternative to plastic trays…

3 days ago

Tarpaulife Project develops alternative to PVC-coated fabrics

The European Tarpaulife Project is working on polyolefin-coated fabrics, such as polyethylene, that can be manufactured to compete with PVC-coated…

3 days ago

Better Cotton to standardise measurements for cotton production

Better Cotton has joined the global non-profit alliance, Cascale, in a three-year project aimed at standardising LCA methods across the…

3 days ago