Cotton futures boasted the largest gain among major commodities this week, after rallying Friday to a more-than-two-year high thanks to a slowdown in global production and signs of stronger demand.
Analysts said that the commodity is likely due for a correction after such a spectacular rise, but its lofty prices may be here to stay.
On Friday, cotton for December delivery CTZ6, -0.35% rose 0.6% to settle at 74.28 cents a pound on the ICE Futures U.S. exchange. Prices logged their highest settlement since June 2014, and scored a weekly gain of 12.9%, according to FactSet data.
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Analysts said that the commodity is likely due for a correction after such a spectacular rise, but its lofty prices may be here to stay.
On Friday, cotton for December delivery CTZ6, -0.35% rose 0.6% to settle at 74.28 cents a pound on the ICE Futures U.S. exchange. Prices logged their highest settlement since June 2014, and scored a weekly gain of 12.9%, according to FactSet data.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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