ICE cotton futures closed at four-month high
YORK August 25 morning news, InterContinental Exchange (ICE) Cotton futures closed at four-month high Tuesday on concerns about weak global economic recovery led to commodity markets suffered broad sell-off, dragged lower cotton prices However, trade / processing plants and fund buying lifted the cotton market regained lost ground rapidly.
index in December cotton contract rose 1.13 cents CTZ0, to 85.22 cents a pound, trading interval of 82.46-85.36 cents recorded in the contract next month the highest closing price since the end of April.
1846GMT, 12 month contract volume for the 13,269 population, 1847GMT, the total export volume to 17,983, according to Reuters data, the average 15,027 higher than the 30 I 19.67%.
brokers SFS Futures analyst, said Mike Stevens, dragged around the market on the price of cotton fell early, but the price fell below the key support at 82.50 cents, the market is buying the strong trade and processing plants, and After seeing steady investment fund market, but also buy the cotton contracts.
market momentum traders uncertain whether the remaining time in the week, boosted cotton futures higher. One trader said: "Cotton 85 cents to close at the top or to continue to boost cotton prices."
ICE data showed Monday on volume of 10,293 population, the previous day for the 8,863 population. Thomson Reuters data showed, as of August 23 open positions in the market for the 212,656 population, a day after the 211,161 population. (END)
