Global cotton prices have remained largely stable over the past month, with minimal fluctuations across key markets, according to Cotton Incorporated’s latest report. The New York Intercontinental Exchange (NY/ICE) July futures contract traded between 65 and 70 cents per pound, while the December contract ranged between 67 and 71 cents per pound.
The A Index held firm between 77 and 81 cents per pound.
In China, the Cotton Index (3128B) remained steady near 89 cents per pound, with domestic prices close to 14,200 RMB per ton. This stability was attributed to the appreciation of the Chinese yuan from 7.
34 to 7.24 RMB per USD. In India, spot prices for Shankar-6 cotton rose slightly from just below 80 to 82 cents per pound, with domestic prices increasing from ₹53,900 to ₹54,600 per candy. The Indian rupee remained stable around 85 per USD. In Pakistan, spot prices hovered near 72 cents per pound, holding steady at around 16,700 PKR per maund. The Pakistani rupee traded consistently at 280 per USD.
This stability in cotton prices across major markets reflects a balanced supply and demand scenario, with currency movements playing a significant role in price determination.
Overall, the global cotton market exhibits resilience, with prices maintaining stability amid currency fluctuations and market dynamics.
