Related Keywords: Cotton market, global trend, heavily overshadowed, heavy smog, influence of global trend, Karachi Cotton Association, large number of spinning units in China, sentiment at domestic market, slowed down, spot rates unchanged, temporary shutdown, trading activity
The global trend heavily overshadowed sentiment at the domestic market, particularly the temporary shutdown of a large number of spinning units in China due to heavy smog, Under the influence of global trend, trading activity on the cotton market on Wednesday slowed down. The Karachi Cotton Association spot rates also remain unchanged.
Spinners generally preferred to abstain owing to slow off-take of yarn and textile goods. Barring needy spinners who indulged in short covering, the market remained devoid of activity.
