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Bremen CIF-Index drops
15 Dec '11
1 min read
Bremen Cotton Exchange reports a clear downward trend could be observed regarding all important price indices during the reported week. Obviously Chinese purchases were also not able to stabilise the New York cotton futures. The Bremen CIF-Index dropped by 6 US-cents amounting to less than 1 USDollar for the first time since June 2010.
Expecting continuously declining prices there were several price enquiries on the domestic market, but they only lead to small turnovers for prompt delivery since the ideas differed. Uncertainty concerning the further development and a wait-and-see-attitude dominated the business on the domestic market.
Contracts were closed for Central Asian descriptions for prompt delivery and cotton from West Africa for the 1st quarter 2012 in the medium staple range.
In the extra longstaple range Giza 88 and Israel Pima were sold for near dates.
Expecting continuously declining prices there were several price enquiries on the domestic market, but they only lead to small turnovers for prompt delivery since the ideas differed. Uncertainty concerning the further development and a wait-and-see-attitude dominated the business on the domestic market.
Contracts were closed for Central Asian descriptions for prompt delivery and cotton from West Africa for the 1st quarter 2012 in the medium staple range.
In the extra longstaple range Giza 88 and Israel Pima were sold for near dates.
Bremen Cotton Exchange
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