Feb 17, 2017 02:36 PM IST | Source: Moneycontrol.com
Expect Cotton prices to trade sideways: Angel Commodities
According to Angel Commodities, We expect cotton and kapas futures to trade sideways on reports of improving supplies in physical markets as prices have stabilized at current levels.
Angel Commodities report on Cotton
Cotton on MCX and NCDEX Kapas closed lower on Thursday. The prices have been trading in a range as arrivals have improved in the physical market. However, good domestic and export demand from neighboring countries keeping the prices at higher levels.
We expect cotton and kapas futures to trade sideways on reports of improving supplies in physical markets as prices have stabilized at current levels. The demand and supplies are in balance. The procurement by CCI may support prices. However, the prices may correct from the current levels if supplies in the physical market improved further.
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