Home / Knowledge / News / Textiles / Daily global cotton market report
Daily global cotton market report
10
Feb '09
Last night in New York futures market, March 2009 closed at 49.98 with a gain of 12 points while the volume traded was 10563 contracts and the May 2009 closed at 50.61 with a gain of 18 points and the trading volume was 8191, while July 2009 was closed at 51.94 with a gain of 40 points and the trading volume was 2062 contracts. The Cot Look A index declared settled at 57.75 with no changes today.

The spot rate at KCA once again remained firm and strong and the settlement declared at Rs. 3400/= per maund today with no changes today. In the local market 600 bales of Rohri sold at Rs3300/= , 600 bales of Jahanian sold at Rs. 3400/= , 1000 bales of Shuja abad sold at Rs. 3400/= ,1000 bales of Mian Chunnu sold at Rs. 3400/= , 400 bales of Ghaziabad changed hands at Rs. 3400/= , 400 bales of Haroonabad changed hands at Rs. 3375/= , 400 bales of Dera ghazi khan changed hands at Rs. 3400/= , 400 bales of Jalal pur sold at Rs. 3400/= , 800 bales of Rahim Yar khan sold at Rs. 3450/= , while in another contract 7000 bales of Rahim yar khan sold at Rs. 3500/ .

Polyester prices are surprisingly surging in china with daily rises of 100 Yuan per ton. The sharp increase in raw material costs and a stronger demand in the post-holiday period are explaining the rebound in staple fiber and filament prices. Paraxylene and PTA were further gaining us$10 on Tuesday morning in Asia.

U.S. apparel imports from China surged in January 2009, in categories where quotas have been removed. The main victims of china's performance were in Central America and especially in Honduras while a series of Asian countries were also affected, as reflected by our statistical tables. Imports from Bangladesh and Vietnam remained strong, reflecting the current need of lower-priced products on a U.S. Market deeply affected by recession.

Demand for cotton yarns from Pakistan is relatively low on the international market. A weak level of interest is being reported from the Far East and Europe. Yarn exporters are now being asked to lower their prices although confronted with higher cotton prices on Pakistan's domestic market. Power is however back into spinning mills, with optimism therefore rising in the country.

India this week decided to subsidize cotton sales to the domestic textile industry. a decisive move which will offer some relief to Indian spinners while possibly putting pressure on international prices. The fate of rapidly rising Chinese reserves will also be key to future price levels on the market. Prices this week further soared in Pakistan where cotton shortage further looms, by contrast.

The market continues to consolidate in a very tight range since late January and open interest continues to hold steady. The upside seems limited by the potential continued weakness in world demand for cotton and the market has found underlying support from ideas that lower planted acreage in the US and China could boost prices eventually. May cotton closed slightly lower on the session Friday but has remained in a tight range for much of the month.

Must ReadView All

Information Technology | On 28th Mar 2017

Intex Consulting signs partnership with Kawan Era Baru

Germany based Intex Consulting GmbH has entered into a strategic...

Courtesy: Kraig Laboratories

Textiles | On 28th Mar 2017

Kraig gets certificate for silk production in Vietnam

Kraig Biocraft Laboratories, Inc., a leading biotechnology company...

Courtesy: Creora

Textiles | On 28th Mar 2017

Hyosung holds Creora workshops in China, HK & Taiwan

South Korean specialty fibre producer Hyosung held a series of...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search