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.
