This development was not imitated by the CIF Bremen Index that moved tighter with slighter oscillation and is therefore reflecting the true on-sale-situation more reliably right now than the July future which has been predominantly affected by technical reasons.
On the local market price ideas based on the New York cotton futures were encountering firm offers. The processing industry has not decided in favour of long-term contracts or of the new crops due to an obviously unsatisfying order situation in many places. Consequently enquiries rather led to contracts of small amounts and prompt delivery.
In the medium staple range cotton from West Africa, Central Asia and Argentina was delivered promptly. Furthermore Argentinean descriptions were ordered for the 3rd quarter and Brazilian for the 4th quarter 2012.
Bremen CIF Index
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