The value of the most important indices for the domestic market like March at the ICE, the Cotlook A Index as well as the Bremen Cotton Market (CIF-Index) have hardly moved after all during the past week in comparison to the previous one.
Nevertheless merchants registered slightly better turnovers during the reported week. According to reports from the fair "Heimtextil" in Frankfort the mood of producers from the Far East was rather positive as last weeks' descriptions of a more active demand confirm. The situation on the major sales market USA was considered being still slightly better than Europe.
European manufacturers estimated the market situation differently. They see the challenge but in general they regarded the situation being not too bad as well. Nonetheless they did not close long-term contracts as before, but purchased level-headed cotton predominantly for prompt delivery.
Contracts in the medium staple range were closed for cotton from West Africa, Brazil and Argentina for near dates. Greek cotton will be delivered in the 1st and 2nd quarter 2012.
Egyptian Giza 88 and Israel Pima were ordered for prompt delivery in the LS/ELS-range; Giza 86 for the 1st quarter 2012.