The CIF Bremen index remained stable recording only slight fluctuations since the last report. Thus, it reflected the firm quotations for promptly available shipments.
The negotiations on prices between trade and industry often did not succeed in closing contracts due to differing price ideas.
In general, the spinning industries just satisfied their immediate need, prompt deliveries were sometimes urgent though. Hardly any noteworthy interest was registered concerning commitments for two months in advance.
Inquiries therefore focussed on the second quarter in the first place and only few inquiries applied to the time right after the company holidays in the third quarter.
It was reported that, internationally, African and European varieties were on focus for prompt deliveries, too, and that Brazilian and Argentinean cotton already found potential buyers for shipment in August.
Contracts were concluded for:
-Medium Staple Cotton: Brazil and West Africa for prompt and the 2nd quarter 2014. Greece for the 2nd quarter 2014. Central Asia for prompt as well as the 2nd and 3rd quarter 2014.
-Long and Extra-Long Staple Cotton: Egyptian Giza 86 and Israel Pima for prompt delivery.
Source:
http://www.fibre2fashion.com/news/Association-news/bremen-cotton-exchange/newsdetails.aspx?news_id=162867
