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CIF Bremen Index stabilizes after temporary weakening
25 Jul '13
1 min read
After a temporary weakening following the price reaction in New York caused by economic news last week, the quotations of the CIF Bremen Index stabilized again to the former sideway trend. At the domestic market most of the inquiries from spinning mills were for price information and for seeking opportunities.
Short term lower offers encouraged some buyers to cover South American qualities besides to the usual cotton from West Africa and Central Asia for nearby dates up to the coming crops.
Available Extra Long Staple varieties were taken up for prompt delivery, but special qualities already for delivery next year. However, the majority of potential buyer was already in or on the way to the company holidays and all about the turnover was limited therefore.
The following contracts were closed:
Medium staple cotton: Cotton from West Africa for prompt delivery, Argentina for 3rd quarter, Brazil and Central Asia for 4th quarter 2013.
Long and Extra-long staple cotton: USA Pima, Israel Pima and Egyptian Giza 88 for prompt delivery, Israel Acalpi for 4th quarter 2013 and 1st quarter 2014.
Bremen Cotton Market
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