higher rates | Yarns and Fibers

Related Keywords: buyers were not ready to purchase lint, higher rates, industry is facing financial crisis, Karachi cotton exchange, shortage of such funds created liquidity crunch, slow trading to prevail for a few months, spot rate remained steady, unpaid refunds lying with government, witnessed slow trading activity

Karachi Cotton Exchange on Wednesday witnessed slow trading activity as buyers were not ready to purchase lint at higher rates. While, the spot rate remained steady.

Spot rate was unchanged at Rs6,700/maund (37.324 kg) and Rs7,180 /40-kg. Ex-Karachi rates also stood firm at Rs6,835/maund and Rs7,325/40-kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.

Karachi Cotton Exchange recorded only one transaction of 2,000 bales from Khanpur at Rs7,000/maund.

Cotton market witnessed bullish trend

Related Keywords: Cotton market, helping rates to go up, higher rates, official spot rate gained further, other mills continued buying of fine quality, rates of phutti also inert, ready business, showed no change, Sindh seed cotton prices, some leading mills kept on the sideline, tight supply position, trading activity, witnessed a bullish trend persisting

Trading activity at cotton market witnessed a bullish trend persisting on Tuesday. The official spot rate gained further Rs 50 to Rs 6450 while, in Sindh seed cotton prices showed no change at Rs 3400 and 3500 per 40 kg, respectively, In Punjab, rates of phutti also inert at Rs 3400 and Rs 3600, dealers said.

In ready business, more or less 6,000 bales of cotton changed hands between Rs 6650 and Rs 6900, they said.

According to the market sources, some leading mills kept on the sideline due to higher rates, in the meantime, other mills continued buying of fine quality.

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Slow trading activity seen at KCA

Cotton market witnessed bullish trend