Interviews
Daily global cotton market report
06 Feb '09
4 min read
To believe that China imports will begin to support the US market soon or to believe that imports will come even close to matching the level of 2008 would mean the trader believes that the world economy will recovery quickly and significantly. A lower dollar and a generally higher stock market provided little support as technical selling and early selling by funds helped to push the market lower. The USDA will issue its latest export sales report today and the next supply/demand report will be out next Tuesday. This will give traders a better handle on whether demand has firmed in recent weeks or not.
China announced support measures for the textile industry after receiving approval from the state council yesterday. An increase in the textile export tax rate from 14% to 15% was less than industry expectations which centered on a 17% rate. Shares in publicly traded listed textile companies fell immediately after the announcement.
China announced support measures for the textile industry after receiving approval from the state council yesterday. An increase in the textile export tax rate from 14% to 15% was less than industry expectations which centered on a 17% rate. Shares in publicly traded listed textile companies fell immediately after the announcement.
Karachi Cotton Association
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