The general trend in the German cotton market remained unchanged during the week. Purchasers enjoyed closing contracts at potentially lower quotations of the new crop, the latest Bremen Cotton Exchange report reveals.
Thus, industry and trade were hardly able to agree on the prices. Though the number of inquiries rose significantly at the beginning of the week, demand totally slumped following the considerable market decline on Monday.
Even in the Far East market, a discreet wait-and-see-attitude could be witnessed. In the local market, just a small number of contracts were closed; exclusively for near dates and mostly in small amounts.
In medium staple cotton, contracts were concluded for Central Asia for prompt delivery up to January 2015 and West Africa for prompt up to the fourth quarter of 2014.
In long and extra-long staple cotton, contracts for Giza 86 for prompt delivery and Sudan Barakat for the fourth quarter of 2014 were concluded. (AR)
