Home / Knowledge / News / Textiles / Bearish market fails to lure high inventory purchases

Bearish market fails to lure high inventory purchases

25
Apr '08
Major buyers were Turkey with 59,300 bales, Indonesia with 28,200 bales and China with 23,100 bales. Shipments were slightly reduced to 284,900 running bales combined with 85,500 bales leaving for China and 32,500 bales leaving for Turkey.

The false breakout on April 16th, which tested the 82 cents basis N'08 was followed by profit taking sell off, thus negative technical pictures for the past sessions. N'08 has been range trading and tested the near term support at 72 cents today.

The strong lead cotton receives from the outside commodities market, or the CRB index, as well as the inverse relationship between cotton and dollar index are the rationales that have supported the recent market movement.

The cotton market feels like we could move sideways short term with more down side testing in the future. The next support lies in the mid 70 cent range.

Click here to view more:

ECOM USA inc


Must ReadView All

Pic: Shutterstock

Textiles | On 21st Jan 2021

Vietnam's garment-textile sector eyes $39 bn in exports

Vietnam's garment-textile sector has set a target of $39 billion in...

Pic: Shutterstock

Fashion | On 21st Jan 2021

Mila Fashion to open apparel plant in Sri Lanka's Welioya

US-based Mila Fashion, part of the Design Studio Group, recently...

Pic: Citi Trends

Retail | On 21st Jan 2021

Citi Trends to open 100 new stores by fiscal 2023-end

Citi Trends, Inc, a US-based value-priced retailer of fashion...

Interviews View All

Abhishek Samdaria, Reflete

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Riddhika Shah, SS Homme

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Rashi Menda, Zapyle

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Dr. Vijaya Kumar,

Dr. Vijaya Kumar

Dr MM Kariappa founded the Vogue Institute of Art & Design in 1996....

Farheen B Rahman & Priti Jain,

Farheen B Rahman & Priti Jain

Founded by business-designer duo <b>Priti Jain and Farheen Rahman</b>,...

Priyanka Gandhi,

Priyanka Gandhi

Established in 2016, Surat-based Shree Ganesh Yarns is a manufacturer of...

Steve Cole, Xerium Technologies

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

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

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

Leave your Comments


January 2021

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


Advanced Search