China's ELS prices have stabilized, but an oversupply of unsold domestic stocks continues to hang over the market. The price spread for ELS cotton is widening between Production and Construction Corps (PCC) farms and non-PCC farms. Currently, the PCC-produced T137 is offered at 18,700 yuan per ton or approximately 122.04 U.S. cents per pound, while the non-PCC T137 is offered at 17,980 yuan per ton or approximately 117.35 U.S. cents per pound.
