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CIF Bremen Cotton Index fluctuates in narrow range
27
Mar '14
Cotlook A and CIF Bremen Index fluctuated in a narrow range, but remained firm on a high level from the textile industry’s point of view despite a short slump due to technical reasons. The price development benefitted from U.S. reports on stable export data and a smaller crop by the end of this season leading to decreasing quantities of demanded qualities.
 
Thus there are still several months that have to be covered until considerable crops are available – keeping in mind a growing price difference between the old and the new crop.
 
The Southern hemisphere crop will be available in the near future, but does not dominate Europe in general.
 
Merchants registered rather few inquiries: yet, compared to the previous week, they recorded a rising interest and a few more closed contracts, though mainly for immediate need. Well know varieties from the medium staple range were sold for prompt delivery. 
 
Taking into account the unsecure production prospects in California as well as higher prices for long and extra-long staple cotton, the spinning industries already ordered considerable amounts for the next year.
 
Contracts were concluded for:
-Medium Staple Cotton: Central Asia for prompt, West Africa for prompt and the 2nd quarter 2014, Greece for the 2nd quarter as well.
-Long- and Extra-Long Staple cotton: Giza 86 for prompt, Israel Pima for prompt and the 1st quarter 2015, US Pima for the 1st quarter 2015 as well.
 
 
 

Bremen cotton Exchange


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