Merchants reported on a markedly quiet week. Since the quotations on the futures market have been increasing, which lead to strong prices at origin, uncertainty prevails at the spinning industry which is only acting “from hand to mouth”. Overall, only a marginal turnover was made. Closing contracts for medium- or long-term was not possible at all.
Quite the contrary: Spinners are already considering if their stocks will last until the end of their works holidays coming up soon. Moreover, merchants noted that sales to Asia have also developed worse. Cotton has been moving in a difficult surrounding altogether.
Small amounts of West-African, Greek, Russian and Central Asian cotton were sold for near dates respectively the 2nd quarter 2009.
In the ELS-range, Israel und US-Pima descriptions were ordered for deliveries within the 2nd quarter 2009.
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