Shortage of quality cotton coupled with depleting cotton stocks have started to affect on trade volume, keeping trading activity dawdling at cotton market on Thursday. Both buyers and sellers took to the sidelines amid rising prices. Barring a couple of deals, the market conditions remained dull.
Big spinners have also reportedly slowed down their imports. On the domestic front, the trading ring gave a deserted look.
Ginners on their part are also holding back their limited stocks in order to get higher rates in the coming days, brokers said. High cotton prices the world over have put the textile industry in dismay, brokers added.
Buyers fear that if they pick cotton at current high rates and later prices come down, this would disturb their viability in the world market.
Major deals that changed hands as per dealers on the ready counter were: 3,000 bales from Rahimyar Khan at Rs7,000 and 2,400 bales from Harooabad at Rs6,800.
However, the Karachi Cotton Association kept its spot rates unchanged.
Among world cotton markets, the New York market remained under profit-selling, while China and India were steady.
Researchers have developed a recycling process to break down polyester in blended textiles while preserving cotton and spandex present in…
Researchers have developed a two-step process that can remove up to 99.3% of colour from reactive-dyed cotton while keeping most…
Schülke, Nitto, Indorama Ventures and Polymateria have launched a new biodegradable disposable wash mitt in Germany, Switzerland, Austria and Spain.
Hyosung will present its latest textile innovations made from renewable and recycled resources at Première Vision Paris, taking place from…
Karl Mayer has expanded its RDJ machine range with the new RDJ 6/2 in E 32 gauge to give manufacturers…
Manchester-based clothing manufacturer WAWWA is investing £120,000 in digital manufacturing technology to improve factory productivity and reduce material waste.