The Cotton markets having failed to generate significant trade turnover in recent days, the Karachi Cotton Association (KCA) decided to revise the spot rate which was revised down by Rs50 per maund (37.324 kilograms) to Rs6,850 per maund.
Earlier, the KCA kept its cotton spot rate unchanged for the five working days at Rs6,900 per maund.
However, the revision in the KCA rate failed to lift trading activities. The cotton markets remained hostage of low trading activities.
Few trading activities took place, traders exchanged mere 1,149 bales (155 kilograms each) at Rs6,650 to Rs7,000 per maund as compared to 1,400 bales traded at Rs6,800 to Rs7,000 per maund a day ago, the KCA reported.
On the global front, at New York cotton market, March futures contract lowered by 0.32 cents per pound to 86.59 cents, while May futures contract dropped by 0.67 cents per pound to 87.14 cents.
AmeriBangla Corporation has launched CottonPort, a digital cotton marketplace designed to connect American cotton farmers with mills and buyers in…
Chinese automaker SAIC-GM-Wuling has introduced bamboo-fiber-reinforced composites into interior components across more than 20 production vehicle models.
Zeneri has begun production of a new collection featuring its patented three-zone knitted architecture, designed to prevent socks from slipping…
Artist Simon Weckert has created Digital Camouflage, a shirt designed to challenge the computer-vision systems increasingly used to monitor public…
Dale of Norway has reintroduced its iconic Albertville sweater, originally designed for the Norwegian Olympic Team for the 1992 Winter…
Karl Mayer has unveiled Advanced Bubble fabrics that use three-dimensional structures, ruffles and transparent grounds to create sculptural textile surfaces.