The cotton market remained steady on Wednesday as spinners generally preferred to buy domestic stocks. Earlier, most spinners were holding their hopes to import cotton from India.
The Karachi Cotton Association’s spot rates were steady at overnight level.
Brokers said that Indian cotton prices have risen by around five US cents from 76 to 81 cents a pound on the expectation of huge imports by spinners from Pakistan and smaller than anticipated crop earlier.
Meanwhile, ginners claim that they are currently holding around 1.5 million bales and this could meet industry’s demand for the next couple of months.
Major deals to have changed hands on the ready counter were: 400 bales from Sanghar (Rs6,000), 400 bales Fort Abbas (Rs6,450), 1,000 bales Haroonabad (Rs6,450 to Rs6,550), 1,000 bales Mohammad Pur Dewan (Rs6,550), 600 bales Fazilpur (Rs6,550), 600 bales Faqirwali (Rs6,550), 1,200 bales Kabirwala (Rs6,550 to Rs6,575) and 400 bales Vehari (Rs6,600).
According to the market reports, growers are annoyed over the withdrawal of subsidy on fertilizer whereas the textile industry has been given a huge relief package given by the government.
Circulose has entered a strategic partnership with Tangshan Sanyou Chemical Fiber, marking a major step toward the commercialization and scaling…
LebaTex has launched a new faux leather collection featuring over 100 unique colors and textures, including polyurethane, vinyl, and silicone…
Gabriela Hearst has introduced eco-friendly sneaker line, named "Ohio," made from 30% recycled materials, reflecting the brand’s commitment to sustainability.
Oysho, the sportswear and leisurewear brand, has collaborated with Fulgar to introduce a new eco-friendly activewear collection made with Q-Cycle…
Autoneum has developed E-Fiber flame shields for electric vehicles, which stand out for their high-temperature resistance, lightweight structure and durability.
McLaren has introduced a world-first innovation in supercar engineering, Automated Rapid Tape (ART) carbon fibre redefining performance while reducing waste.
