During the last week local merchants registered more demand, which was however mainly limited to the period until end of the year 2007.
Cheap offers for cotton from the new crop were unavailable and a major obstacle for more conclusions of new contracts were the widely apart drifting price ideas of spinners and sellers at origin.
Even for old positions, the sellers were not willing to reduce prices, although the first lots from the new crop will be ginned within short. Towards end of the week the cotton quotations in New York made an upwards jump by 400 points.
In the Upland range turnovers were registered in Central Asian sorts for prompt and further until dates in the 4th quarter 2007; as well as West African types for the same period of time.
Egyptian GIZA 86, 88 and 89 were sold for prompt delivery.
Click here to view more:
Bremen Cotton Exchange / Otto Stadtlander GmbH
marketing@alchempro.com
