ICE Cotton Rally Fizzles Out Amidst Market Uncertainty
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- Published: Friday, 26 April 2024 11:56
The recent surge in ICE cotton prices, witnessed on Monday, was short-lived as market confidence took a hit due to concerns over demand improvement. Despite opening high on Tuesday, the market failed to sustain momentum throughout the day, lacking support from robust external factors. Weakness in the flash US Composite Purchasing Managers Index (PMI) underscored vulnerabilities in the manufacturing sector, contributing to the market's downward trend.