Calm trading in cotton market

0
79

In the last calendar week the quotations of the New York cotton future market and the Cotlook A Index were again on the hunt for historical highs, despite of the ho lidays in the major importing country China.
The local market was characterized by most of all calm business with a similar volume like in the previous week. Inquiries from producer’s side were consistent and related to Medium Staple as well as to Long- and Extra Long Staple cotton of all qualities.
The interesting period was predominantly the second third of this year to cover the connection to the new crop and the first half of the next year to secure required quantities and prices. Contracts were mostly concluded in West African qualities. Central Asian cotton was bought ex European warehouses for prompt delivery. Offers of cotton for nearby delivery remained limited on a price level which buyers accepted only to cover needs for processing.
Business was concluded in West African qualities for shipment in the 2nd quarter until the 4th quarter 2011 and in the 1st and 2nd quarter 2012; Central Asian cotton for delivery prompt and in the 2nd quarter and 4th quarter 2011.
Long- and Extra Long cottons were traded as follows: Israel Acalpi and Israel Pima for delivery in 1st and 2nd quarter 2012; US-Pima for 2nd quarter 2011 and Egyptian Giza 86 for 1st quarter 2011.

(Source: http://www.fibre2fashion.com/news/textile-news/newsdetails.aspx?news_id=95941)

LEAVE A REPLY