Bremen CIF Index reports that after the rise at the beginning of the reporting week, the May-quotes in New York have returned to the level achieved in the previous week. The medium staple qualities of Cotlook A Index and Bremen CIF Index followed much more slowly and tend to remain firm.
The availability of good qualities in the origin for nearby deliveries was obviously limited. At the local market, it seemed to be difficult to bring in line the different price expectations of trade and industry.
The firm offers and the upcoming Easter holidays contributed to a quiet business with rather less than more turnovers. Spinning mills with sufficient stocks remained in a wait and see attitude and covered nearby requirements only. However, there was sporadicl interest for deliveries in new crop.
Contracts were reported in West African and Central Asian medium staple qualities for prompt delivery and for the 2nd and 3rd quarter 2012, Greek cotton for the 2nd quarter 2012, Spanish cotton for the 4th quarter 2012 and Chad cotton already for the 1st quarter 2013.
Extra-long staple cotton like Giza 88 was registered for prompt delivery, Sudan Barakat cotton for delivery in the 2nd quarter 2012.