Related Keywords: attracted many small spinners, Karachi Cotton Association, Low cotton prices, meet their day to day demand, Pakistan cotton market, result renewed buying interest, spot rates unchanged, who mostly depend on short covering
Low cotton prices attracted many small spinners who mostly depend on short covering to meet their day to day demand. As a result renewed buying interest was seen on Tuesday at the Pakistan cotton market.
Phutti (seed cotton) prices also came down and were being quoted in the range of 3,300 to 3,350 per 40 kilograms. However, reports from cotton fields suggested that very little phutti has left for picking.
Brokers said that leading spinners are currently preoccupied in payments against their imports and were conspicuous by their absence.
