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Activity trading seen at cotton market

YarnsandFibers News Bureau 2017-08-01 15:00:00 – Karachi

Karachi Cotton Exchange on Monday witnessed active trading, while spot rate remained firm at Rs6,350/maund (37.324 kg) and Rs6,802/40-kg. Ex-Karachi rates also remained firm Rs6,485/maund and Rs6,950/40-kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.

Karachi Cotton Market recorded nine transactions of around 6,000 bales of the new crop at a price of Rs6,350 to Rs6,700 a maund.

According to an analyst, there was more demand after rains stopped in Sindh. Around 65 ginning factories have started operation in Sindh and 10 in Punjab.

Local market is likely to remain steady amid an increase in the demand.

In India cotton prices are up, while in China they are down. US showed mixed trend.

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