Karachi Cotton Exchange on Tuesday recorded normal trading activity, while spot rates stood unchanged at Rs6,350/maund (37.324kg) and Rs6,805/40kg. Ex-Karachi rates also remained unchanged at Rs6,485/maund and Rs6,950/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.
KCE recorded seven transactions of around 4,500 bales from the new crop of Sindh and Punjab at a price of Rs6,275 to Rs6,550/ maund.
Of these, 1,000 bales of Shahdadpur, 1,000 bales of Tando Adam, 400 bales of Sinjhoro, 800 bales of Sanghar, 200 bales of Burewala, 400 bales of Chichawatni and 400 bales of Vehari were traded in the market.
According to an analyst, spinning mills are in demand of the cotton, while arrivals remained shorter than the demand keeping the prices firm.
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