*GUJCOT TRADE ASSOCIATION*
WEEKLY REPORT 29-AUG-2020
*Market Movement from 24th Aug 2020 to 29th Aug 2020*
• China cancelled some old US cotton bargain but purchased new contract in weekly export sales. US Export Shipment was lower but good number of shipments to China is a positive sign for market.
• Indian physical market was firm and jumped up due to regular increase in CCI Offer rate. Traders also quoted higher rate with increasing CCI offer rate. Uptrend seems to be broken in last two days of the week due to appreciation in Indian Rupee. Gujcot spot rate crossed 36,000 during this week.
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