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ICE cotton remains stable; bearish tone persists after WASDE report

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ICE cotton remains stable; bearish tone persists after WASDE report



ICE cotton futures were largely stable, with a bearish tone. The USDA’s world supply and demand report indicated lower consumption and exports, while production is expected to rise. Although the report was in line with market expectations, it dampened sentiment. A weaker US dollar capped losses in US cotton.

The most actively traded March cotton contract eased by 0.02 cent to settle at 61.59 cents per pound after trading as high as 62.28 cents earlier in the day. The more actively traded May cotton futures contract gained 0.55 cent, or 0.90 per cent, to settle at 63.78 cents per pound.

ICE cotton futures were largely steady after the USDA’s February WASDE report signalled higher global production and stocks alongside lower consumption and exports for 2025–26.
The data, largely in line with expectations, weighed on sentiment, though a weaker US dollar limited losses.
March closed marginally lower, while May gained 0.90 per cent.

Most contracts traded higher by between 2 and 32 points. Contracts from May 2026 through October 2027 recorded their second consecutive higher close, indicating mild strength in deferred months.

Weak US economic data pushed the dollar lower against major currencies, making dollar-denominated cotton relatively cheaper for overseas buyers.

Trading volume was extremely heavy at 131,395 contracts, just below Monday’s 2026 high of 139,728 contracts. Historically, cotton has traded above 100,000 contracts only 25 times, with 15 of the top 18 volume days occurring in the past 12 months, showing that large volumes can occur without major price swings.

USDA February estimates place 2025–26 global cotton production at 119.86 million bales (January: 119.43 million) and ending stocks at 75.11 million bales (January: 74.48 million). The USDA cut its 2025–26 global cotton consumption forecast by 200,000 bales and its export forecast by 60,000 bales.

Market analysts said the data were within expectations and that prices have retreated from recent highs. The market appears oversold and could rebound towards 64 cents.

Meanwhile, Intercontinental Exchange data showed ICE-certified No. 2 cotton stocks at 95,158 bales as of February 9, compared with 93,561 bales a day earlier.

This morning (Indian Standard Time), ICE cotton for March 2026 traded at 61.87 cents per pound (up 0.28 cent), cash cotton at 59.59 cents (down 0.02 cent), the May 2026 contract at 64.04 cents (up 0.26 cent), the July 2026 contract at 65.76 cents (up 0.28 cent), the October 2026 contract at 67.41 cents (up 0.23 cent), and the December 2026 contract at 67.21 cents (up 0.12 cent). A few contracts remained at their previous closing levels, with no trading recorded so far today.

Fibre2Fashion News Desk (KUL)



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India’s POY output cut to 60% as rising costs hit producers hard

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India’s POY output cut to 60% as rising costs hit producers hard



India**;s partially oriented yarn (POY) manufacturing sector has significantly scaled back production, with plant utilisation rates falling to approximately ** per cent of installed capacity. The pullback is not demand-led; rather, it is a direct consequence of extraordinary inflationary pressure in petrochemical feedstocks, compounded by supply chain uncertainty stemming from ongoing geopolitical tensions across West Asia.

Within the first week of March ****, prices of the three core inputs for POY production purified terephthalic acid (PTA), monoethylene glycol (MEG), and paraxylene (PX) rose sharply and simultaneously, catching yarn producers with limited room to adjust. The aggregate cost of the raw material basket climbed by an estimated ** to ** percent in under a month, an extraordinary pace of inflation by any historical measure in this sector.



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Apparel imports in France rise to $26.6 bn in 2025

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Apparel imports in France rise to .6 bn in 2025












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UN attempt to open Strait of Hormuz fails at Security Council vote

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UN attempt to open Strait of Hormuz fails at Security Council vote



The United Nations (UN) Security Council recently rejected a draft resolution submitted by several Gulf states that would have strongly encouraged countries to coordinate defensive efforts and deter attempts to interfere with international navigation through the Strait of Hormuz.

The vote followed multiple rounds of negotiations.

The UN Security Council has rejected a draft resolution submitted by several Gulf states that would have strongly encouraged countries to coordinate defensive efforts and deter attempts to interfere with navigation through the Strait of Hormuz.
By a vote of 11 in favour to two against (China, Russia), with two abstentions, a draft resolution submitted by several Gulf states could not be adopted.

Abdullatif bin Rashid Alzayani, Minister for Foreign Affairs of Bahrain and Council President for April, presided over the meeting.  “We [member states of the Gulf Cooperation Council] declare loudly and unequivocally before this Council, which is charged with the maintenance of international peace and security, that [Iran] has no right to close this waterway to international navigation,” he said.

He cautioned that if the Council permits the Strait of Hormuz to remain closed today, “such a scenario would inevitably be replicated in other straits and waterways, thereby transforming the world into a jungle where force, arrogance and hegemony prevail”. 

However, by a vote of 11 in favour to two against (China, Russia), with two abstentions (Colombia, Pakistan), the draft resolution could not be adopted.

The Chinese representative said that the proposed draft “failed to capture the root causes and the full picture of the conflict in a comprehensive and balanced manner”.  Noting that it contained one-sided condemnations, he stressed that “this war should never have happened” and called on the United States and Israel to cease what he described as illegal military actions. 

He also called on Iran to stop its attacks and noted that his delegation is currently working alongside Moscow on an alternative resolution to address the situation, according to a UN press release.

Beijing and Moscow announced plans to introduce an alternative text soon.  “Our draft will be concise, equitable and balanced,” said the Russian representative. 

“The objective of this draft is obvious,” stated Iran’s representative, as it seeks to “punish the victim for defending its sovereignty and vital national interests in the Persian Gulf and the Strait of Hormuz while providing political and legal cover for further unlawful acts by the aggressors”.

Fibre2Fashion News Desk (DS)



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