Ceiling price of state cotton reserves on Aug 24, 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 Aug 24, the maximum price of reserves is 15,978yuan/mt, so the state cotton reserves will begin.