Following the ICE, the down trend of the quotations of the CIF Bremen Index in the middle of last week was compensated again by an increase until Tuesday this week.
For a short time the falling prices encouraged spinners to cover nearby needs especially for medium staple cotton before they generally returned to a more wait-and-see attitude.
More steady inquiries were reported for extra long staple cotton and limited available qualities, which were purchased also for delivery in the second half of the year.
The following contracts were closed:
- Medium staple cotton: Cotton from Central Asia for prompt delivery, West Africa for prompt and the 3rd quarter, Israel Acala for the 3rd and 4th quarter 2013.
- Long- and extra-long staple cotton: Egyptian Giza 88 and Israel Pima for prompt delivery, Sudan Barakat for prompt and the 3rd quarter as well as US Pima for the 3rd and 4th quarter 2013.
