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2014-4-4
he CIF Bremen Index stuck at around one Dollar per pound after recovering from distinct but short termed weakening.
However, the available quotations were still at an unfavourable level compared to the expectations of the textile industry.
In addition witnessed high volatility in the markets caused difficulties to agree on prices and finally to conclude contracts.
The price gap between old and new crop widened further. So potential buyers continued to be carefully and observed the market development searching for chances to cover needs for nearby dates until the new crops are available.
Quotations for Long and Extra-Long Staple cotton were stable and kept firm due to prospects of squeezed supplies.
Contracts were concluded for:
-Medium Staple Cotton: Central Asia for prompt and the 2nd quarter, West Africa and Greece for the 2nd quarter 2014, US EMOT for the 2nd and 3rd quarter 2014.
-Long- and Extra-Long Staple cotton: Giza 86, US Pima and Spanish ELS for prompt, Sudan Barakat for prompt and 2nd quarter 2014, Israel Pima for prompt and the 1st half 2015.
Source:Bremen Cotton Exchange
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