Bremen CIF Index reports that prices moved higher in small steps since the last report. Quotations have generally been firmer, especially in the USA supported by unexpected positive export figures.
The price development and the Bremen Cotton Conference, which had been well attended by the processing industry, have for sure contributed to limited turnovers at the domestic market.
In view of the firm offers more inquiries were noticed for price information about new crop. Nevertheless, the price ideas of the market participant have still been different. In the light of uncertain orders many spinning mills watched for the further direction of prices. Most of all the negotiated contracts remained to be of small volume and for prompt delivery.
In the medium staple range deals were registered in West African and Argentine cotton for prompt delivery as well as Spanish cotton for the 2nd quarter 2012
Long staple cotton like Giza 86 was reported for prompt delivery.