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Ceiling price of state cotton reserves on Oct 28, 2022
 According to the announcement on the first batch of state cotton reserves in 2022, the maximum price of reserved cotton is settled by the prior working day's Chinese spot cotton price, and if the Chinese spot cotton price is below 18,600yuan/mt in the prior working day, the reserves will start, while if the price is higher than 18,600yuan/mt, the reserves will be suspended.

 

According to the calculation, on Oct 28, the maximum price of reserves is 15,776yuan/mt, so the state cotton reserves will begin.

Date CCIndex 3128B CncottonB
Oct 27, 2022 15,813 15,739
Maximum price on Oct 28 15,776

 

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