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Bremen cotton market declines
25
Apr '13
During the course of the reported week, there were hardly any changes regarding the CIF Bremen Index and remained at a level registered at the beginning of March lastly. However; by the end of the respective week, the quotes weaken following the decreasing May-future in New York.

The daily volatility at the ICE – according to reports mainly having been aroused by reducing long and covering short positions – did not facilitate the closing of new contracts on the purchaser’s as well as the seller’s side on the local market.

Asked varieties, long and extra-long staple cotton in the first place, were continuously traded at firm quotations at origin. Yet, the immediate need of the processing industry obviously seemed to be satisfied.

Thus contracts were mainly closed for assuring production up to the company holidays or even afterwards and prompt deliveries agreed sporadically only.

The following contracts were closed:

Medium staple cotton: Cotton from Central Asia and Spain was ordered for delivery in the 2nd quarter 2013, from East Africa for the 2nd and 3rd quarter 2013 and from West Africa for the 3rd and 4th quarter 2013.

Long- and extra-long staple cotton: Israel and US Pima were purchased for prompt delivery; Egyptian Giza 86 for the 2nd quarter and Giza 88 for the 3rd quarter 2013.

Bremen Cotton Market


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