Only few merchants reported on a good week. Inquiries for ELS led on the week seasonally. Because of the holidays in sight and the Euro under pressure leading to consolidating cotton prices business calmed down.
Several merchants are in a slightly bullish mood since the mill demand could not yet be totally satisfied. Just slight price movements may lead to new contracts.
Greek and West African descriptions as well as high quality from Mali were sold for prompt delivery. The need for the 1st quarter 2008 was satisfied by cotton from Central Asia, West Africa and Greek in medium quality. For the 2nd and 3rd quarter 2008 contracts were closed for raw material from West Africa.
ELS contracts comprised US Israel Pima for the 2nd, 3rd and 4th quarter 2008 as well as Egyptian Giza 86 + 70 for near dates and Giza 88 for the 2nd quarter 2008.
Long staple cotton from Israel was sold for near dates as well as for the 2nd, 3rd and 4th quarter 2008.
marketing@alchempro.com
