During the reference week the price quotations of the Cotlook A Index as well as the CIF Bremen Index fluctuated in more narrow range and showed no clear direction similar to the futures at the ICE.
Stable high raw cotton prices and indicated subdued number of new orders prevented spinning mills from covering more than the actual needs for nearby deliveries and kept them more or less in a ‘wait-and-see’ attitude.
To some extent prolonged Pentecost holidays additionally limited the turnover at the domestic market.
Besides higher quality cotton from the usual West African origins contracts were also reported for other crops and qualities with attractive prices and prompt availability.
The following contracts were closed:
Medium staple cotton: Cotton from Spain, Greece, Pakistan and Argentina for prompt delivery. West Africa for delivery prompt and in the beginning of the 3rd quarter 2013.
