Home / Knowledge / News / Textiles / Spot business in cotton slows down
Spot business in cotton slows down
01
Jun '09
For a second week in a row sales are not as aggressive as they used to be in the past weeks. The correction in NY futures made spinners step back and wait till the market stabilizes. We should bear in mind that during April and first half of May most spinning mills covered their needs for the coming months.

These sales reduced the current crop stocks at the levels of 50-60,000 tons which means that ginners are not in a hurry to sell more at lower levels. In addition, the remaining stocks are in the hands of few and financially strong ginners who would hardly follow any NY futures drop, especially when dollar is so weak.

Despite the failing demand, during the week few new sales of small volumes were reported at levels of 57-59 usc/lb FOT depending on quality. Buyers were either international merchants or Turkish spinners. From the Egyptian market we commonly hear problems in shipments of Greek cotton and not any new sales.

Regarding new crop production combining several trustworthy sources (cotton seed companies, ginners, etc) we maintain our estimate of 200,000 Hectares planted which will result to about 190-200,000 tons of lint under normal weather conditions.

Lastly, as far as new crop sales is concerned we calculate about 5-10,000 tons already sold at levels of even Dec 09. Spot business has slowed down and ginners are getting more interested in new crop sales.

Thrakika Ekkokistiria S.A.

Must ReadView All

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Textiles | On 10th Dec 2016

Indian textile hubs adopt cashless payment modes

The textile ministry is promoting cashless payment within the...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Marten Alkhagen
Swerea IVF AB

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search