At the Karachi Cotton Exchange on Monday, trading activity remained slow. KCE recorded domestic transactions of around 5,000 bales from six stations in between Rs6,150/maund to Rs7,000/maund.
The spot rates stood unchanged at Rs6,700/maund (37.324kg) and Rs7,180/40kg. Ex-Karachi rate also remained firm at Rs6,835/maund and Rs7,325/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.
Local industry was focusing on more consumption, after announcement of textile package. But mills were forced to buy back local cotton after dispute with Indian exporters who backed from delivery of 50,000 bales on prices.
However, lint prices in the local market remained stable, as they moved around the peak prices available worldwide.
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