12.21ICE Cotton Slightly Increased &Nbsp; Boosted By Speculative Buying.
According to the December 21st news, analysts said that the US cotton futures rose slightly on Wednesday, which was boosted by speculative buying, and the market segment was trading.
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Christmas and new year's holidays.
Intercontinental Exchange (ICE) index rose 0.04 in March cotton.
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It's 86.84 cents a pound, with an interval of 86.26-87.38 cents.
On Wednesday, nearly 8200 hands were traded, about 60% less than the 30 day average.
Mike Stevens, an independent expert, said: "the market has not shown any weakness."
Cotton is "remarkably stable".
About 5000 of the 8000 contracts reached March.
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Some traders said that this may indicate that the market has strong interest in business in recent months.
But on the whole, the cotton market is depressed, especially for many market participants.
Analysts said that the main promoter of cotton market, fund managers and large investors, will also be away from the market this year and will not return to the market until the beginning of the new year.
"There are six trading days left this year, and no one will be reluctant to do so," an analyst explained.
From a fundamental perspective, traders believe that cotton will not be a good investor's mind in the near 2012.
European debt and the United States, they point out.
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Crisis concerns will continue to weaken cotton demand.
Traders said that once China completed the work of replenishing national reserves, there would be no large buyers in the market.
According to ICE data, the total volume of US cotton futures increased to 9136 on Tuesday, and Monday was the lowest 5056 hand since the end of 2008.
The exchange data showed that the cotton market in December 20th was 150183 hands, slightly higher than the 148910 hand of the previous trading day.
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