Related Keywords: anticipating smaller crop, Cotton market remained steady, expecting huge imports, Indian cotton price risen, KCA, Pakistan spinners, spinners generally preferred to buy domestic stocks, spinners were holding their hopes to import cotton from India, spot rate steady
The cotton market remained steady on Wednesday as spinners generally preferred to buy domestic stocks. Earlier, most spinners were holding their hopes to import cotton from India.
The Karachi Cotton Association’s spot rates were steady at overnight level.
Brokers said that Indian cotton prices have risen by around five US cents from 76 to 81 cents a pound on the expectation of huge imports by spinners from Pakistan and smaller than anticipated crop earlier.
