Reserved cotton volumes offered for sales and trading volumes

To clearly state the sales condition of reserved cotton, three phases are divided. First, since Jul 5 to end Sep, daily volumes offered for sales maintained steady at 10,000 tons (except the 15,000 tons on Sep 6-Sep 16), and trading sentiment was active, with the volumes fully transacted. Second, on Oct 7, the China National Cotton Reserve Company announced to extend the sales, from Oct 8 to Nov 30. The daily volumes offered for sales increased to 15,000 tons, up to 20,000 tons from Oct 11 and up to 30,000 tons on Oct 19. Trading proportion continued to lower, but the daily trading volumes were basically flat or better than previous period. Last, on Nov 10, the China National Cotton Reserve Company announced to sell 600kt of reserved cotton, and daily volumes offered for sales declined to 20,000 tons, down to 15,000 tons on Nov 25, and down to 10,000 tons from Oct 26 to Nov 30. Trading proportion failed to reach 100%.