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Related Keywords: cotton bales, Cotton market, global cotton market, KCA, kept to the sidelines, Leading spinners, major factor for poor performance, slow off take of cotton yarn, Slow trading witnessed, spot rate

Slow trading witnessed at the cotton market on Wednesday as leading spinners kept to the sidelines. Overall, the undertone was weak and outlook uncertain. However, some market reports suggest that slow off-take of cotton yarn was a major factor for poor performance of the cotton market.

Trading resumed on overnight dull tone, impacted by the issuance of an statutory release order (SRO) waiving duty and taxes on import of cotton.

Related Keywords: backdrop of falling world cotton prices, Cotton market, Ginners, lack of buying interest, leading buyers, Leading spinners, not deterred with falling prices, pushed cotton prices lower, remained steadfast, Slow moving trading activity, withdrew to sidelines

Slow moving trading activity was seen at cotton market on Wednesday as leading buyers withdrew to the sidelines in the backdrop of falling world cotton prices. The lack of buying interest from leading spinners further pushed cotton prices lower. However, ginners on their part remained steadfast and were not deterred with falling prices.

At the Karachi Cotton Association (KCA) spot rates were adjusted downward to Rs7,500 per maund.

Related Keywords: buying spree, cotton bales, cotton imports from India, cotton yarn, exporters, KCA, Leading spinners, Pakistan cotton market, phyto sanitary certification, pushing prices higher, rising demand for quality cotton, spot rate rise, Textile Industry, trading activity

Trading activity at Pakistan cotton market witnessed rising demand for quality cotton pushing prices higher on Thursday where leading spinners and some exporters remained in the front of buying spree.

The Karachi Cotton Association’s spot rates saw rise by Rs50, to Rs6,300 per maund (around 37 kilograms).

Buyer remain under panic due to confusion over cotton imports from India and indirect ban based on reports that Indian cotton shipments failed to fulfil phyto-sanitary certification, threatening the $822 million-a-year trade.

Related Keywords: accumulate maximum stock, bullish, cheap Indian yarn, cotton imports from India, cotton prices remained higher, cotton yarn imports, gain momentum, Leading spinners, Pakistan cotton market, quality cotton, remove indirect ban, striking big lot deals, trading activity

Trading activity at Pakistan cotton market remained bullish with leading spinners indulged in striking big-lot deals to accumulate maximum stock of quality cotton which was still available in abundance though first picking is about to come to an end. As a result, cotton prices remained higher, brokers said.

Buyers were not ready to give up their buying drive in order to build up their stocks, although there were rumors in the trading ring that the government may remove indirect ban on cotton imports from India.

Related Keywords: absence of buying interest, attending textile fair in Frankfurt, fine yarn, Leading spinners, Pakistan cotton market, quality cotton, raw cotton, trading activity

Trading activities at the cotton market on Tuesday in the absence of buying interest remain slow. There were only a few small lot deals from some mills as most leading spinners are abroad to attend a textile fair in Frankfurt, Germany.

Many spinners participating in the forthcoming textile fair in Frankfurt, Germany, are expecting to get good business. As a result, much of buying remained around quality cotton required to produce fine yarn and high quality made-ups, brokers said.

Related Keywords: festival season, Indorama, Leading spinners, local spinning units, man-made fabric hub, powerloom weavers, Reliance Industtries, stop purchasing yarn, Surat, Textile Industry, yarn prices reduced

Leading spinners including Reliance Industries Limited (RIL), Indorama as well as the local spinning units in and around the Surat, the country’s biggest man-made fabric hub have reduced yarn prices by almost Rs 15 per kg in different categories in the last one and a half month to encourage sale of yarn in the textile industry, but there are no takers.

The powerloom weavers in Surat have stopped purchasing yarn, the basic raw material required in the production of polyester fabrics, due to overproduction and the upcoming festival season.