Cotton Merchants reported that the industry is generally diffident. The number of enquiries was decreasing compared to the previous week. According to some traders’ estimation, the reason for this is the hope for declining prices; however, the market has in fact consolidated.
The requirements for the 4th quarter 2007 do not yet seem to be fully satisfied. Since most of the mills are just ordering quantities absolutely necessary for production, a future scarcity of raw material could arise as soon as the prices decrease just a little. The European business was described as more active as that to Far East.
The little demand for near dates was satisfied by cotton from Central Asia, West Africa and Greece. Raw material from West Africa and Chad was sold for the 1st quarter 2008. Moreover contracts were closed for descriptions from Chad for the 2nd quarter 2008.
US Pima was ordered for the 1st quarter 2008.
The requirements for the 4th quarter 2007 do not yet seem to be fully satisfied. Since most of the mills are just ordering quantities absolutely necessary for production, a future scarcity of raw material could arise as soon as the prices decrease just a little. The European business was described as more active as that to Far East.
The little demand for near dates was satisfied by cotton from Central Asia, West Africa and Greece. Raw material from West Africa and Chad was sold for the 1st quarter 2008. Moreover contracts were closed for descriptions from Chad for the 2nd quarter 2008.
US Pima was ordered for the 1st quarter 2008.
