Stock exchange news. The market is within consolidation phase. However, there are factors that presuppose the bear trend of upcoming flow of events. Progressive lowering of import volume by a number of large importers is the main of these factors. In this reference special attention is paid to China, which has cancelled the import of 1.466 mln. bales this season and 374 ths. next season.
Moreover, cotton plantations are within the hurricane impact area, but this has had little impact on prices. There appear controversial claims about favourable weather conditions in North and South Carolina; and again this information had no impact on world prices.
Weak demand for cotton, according to the analytics of the Department of Derivatives Trading of Forex Academy and Masterforex-V Futures Trade and Stock Exchange, is connected with a slowdown in economic growth and the expectation of rich crop in a number of countries-manufacturers. Technically, the market continues its movement within the price range of 90-110.
