July 5, 2020 / 11:34 AM / a month ago

China sells 8,060 tonnes of cotton at auction of state reserves on July 3

BEIJING, July 5 (Reuters) -

* China sold 8,060.2184 tonnes of cotton, or 100% of total offer, at auction of state reserves on Friday, the China Cotton Association said on its website

* Average price of the cotton sold was 11,398 yuan ($1,613.17) per tonne, according to a statement on the industry website

* The industry association has also set floor price of cotton auction at 11,895 yuan per tonne for the week starting July 6, it said in another statement. ($1 = 7.0656 Chinese yuan renminbi) (Reporting by Min Zhang and Tony Munroe)

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