Related Keywords: amid fall in cotton yarn demand, cotton price move downwards, KCA, lack of buying interest, local spinners and mills, market failed to attract buying interest, Pakistan cotton market, spot rate unchanged, turnover remined low
At the end of week, cotton market turnover remained low due to lack of buying interest from local spinners and mills. Cotton prices continued to move downwards on Saturday, amid fall in cotton yarn demand.
Traders bought near 1500 bales at the ready counter with prices plunging down to Rs5,300/maund. Brokers said that trader sentiments remained bearish as they preferred to make small transactions in accordance with their immediate demand.
The Karachi Cotton Association kept the spot rate unchanged at Rs5,500/maund.
