Related Keywords: all cotton made available sold out, average price up, China state cotton auction, Chinese textile sector, global cotton prices remain subdued, healthy US crop yields, indicates shortage of high grade cotton, latet rounds of auction, pushing total amount sold excedd one million tonnes, strong demand for the material
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.
