– Reporting Period 01 – 14 December 2022 –
Over the current reporting period, the ICE Cotton No.2 futures experienced a decrease, but with a slight upswing towards the end. In general, however, the indices’ trend remained bearish. Demand stayed weak, although some spinners came back to the market to meet immediate needs.
The European market was dominated by restraint with only limited buying interest. Even though freight rates continued to return to pre-COVID levels, the logistical transport chain was still too much out of balance to reliably realize short-term delivery dates. The strengthening euro against the dollar did not necessarily facilitate cotton imports for spinning mills.