China´s domestic cotton prices slowly rallied last week (week ending March 7), reaching new seasonal highs as domestic mills focused on local cotton instead of imports. In T129 (GM 1-1/8"), prices reached 14,803 to 14,903 yuan per ton, landed inland mills, or approximately 94.50 to 95.13 U.S. cents per pound. T129 prices at Xinjiang warehouses are currently averaging 14,269 yuan per ton or approximately 91.08 U.S. cents per pound.

T229 (SM 1-1/8") prices are now averaging 14,500 to 14,600 yuan per ton, landed the eastern mills, or approximately 92.56 to 93.20 U.S. cents per pound. Prices in Xinjiang have advanced to 14,060 yuan per ton or approximately 89.75 U.S. cents per pound. T328 (M 1-3/32") prices have reached 13,950 to 14,000 yuan per ton, landed the eastern mills, or approximately 89.05 to 89.37 U.S. cents per pound. Xinjiang warehouse prices are at 13,825 yuan per ton or approximately 88.25 U.S. cents per pound.

Source: globecotnews