Some enterprises have already ended their company holidays. In conjunction with the development of prices which had turned to slightly increase this led to a rising number of inquiries for usual varieties.
Since movements on the futures market are unforeseeable and technical reasons are assumed to have provoked the strong price decrease in the first place, some yarn producers decided that the time is ripe for closing contracts. Near delivery dates were preferred; the new crop and delivery dates in the coming year enjoyed increased interest as well.
The international market recorded a much brisker business. Many spinning mills realized that the low prices offered a good opportunity to purchase. It was reported from origin, on the other hand, that the willingness to meet the price ideas inspired by New York continued to fade regarding the new crop.
Since the 1 August quotations for Brazilian high grades are considered for the composition of the CIF Bremen Index.
Contracts were concluded for:
-Medium staple cotton: West Africa prompt and the 2nd quarter 2015 and Central Asia for prompt delivery as well.
-Long and Extra-Long staple cotton: Spanish ELS for the 3rd quarter 2014.
