However, the ICE cotton price for the December 2024 contract remained positive. It gained 0.2 cent to 84.47 cents per pound. Similarly, the March 2025 and December 2025 contracts were noted at 85.25 cents and 79.15 cents per pound, respectively, on Wednesday morning during the London session.
A commodity analyst based in New Delhi told Fibre2fashion, "There were concerns about the future demand for cotton globally. Economic uncertainty contributed to slow demand from various buyer segments. The macro scenario was also not supportive of ICE cotton."
He said that manufacturing activities are likely to remain slow, which was dampening market sentiments for ICE cotton. Gold prices are rising as investors are focusing on it. In such a scenario, equities and commodities lose their appeal for investors.
ALCHEMPro News Desk (KUL)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
