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Related Keywords: Cotton market, needy spinners and mills, official spot rate remain unchanged, prices were matching psychological levels, Punjab rates of Phutti were higher, seed cotton prices gained, slow demand for cotton yarn, took part in fresh deals, Trading activity started improving

Trading activity started improving as needy spinners and mills took part in fresh deals as prices were matching with their psychological levels on the cotton market on Friday according to market sources.

The official spot rate remain unchanged at Rs 5,900, dealers said. In Sindh, seed cotton prices gained Rs 200 to Rs 3100-3200 and in Punjab rates of Phutti were higher by Rs 200 to Rs 2900-3100, as per 40 kg.

In ready business, over 4000 bales of cotton changed hands between Rs 5975 and Rs 6150, dealer said.

Related Keywords: cotton prices, cut in Chinese import quota, Karachi Cotton Association, lint cotton, Pakistan cotton market, phutti arrival, slow demand for cotton yarn, Spinners, world cotton markets

Higher arrivals of phutti (seed cotton) coupled with slow demand for cotton yarn kept spinners to the sidelines. While prices moved lower on the cotton market yesterday in Pakistan.

Lint prices are coming under more pressure with phutti arrivals gaining momentum with each passing day. On ready trading prices dropped by Rs150 to Rs200 per maund, brokers said.