The Karachi Cotton Exchange on Tuesday witness slow trading activity while spot rate remained unchanged. Spot rate remained unchanged at Rs6,750/maund (37.324 kg) and Rs7,234/40-kg.
Ex-Karachi rates also stood firm at Rs6,885/maund and Rs7,379/40-kg after addition of Rs135 and Rs145 as upcountry expenses, respectively.
According to analyst, slow activity showed that only few stocks were left with the ginners. However, ginners were eager to clear their warehouses as soon as possible, as weight of lint gets reduced in hot weather.
Only three transaction were recorded to have changed hands at Karachi Cotton Exchange: around 2,200 bales in Rs6,700/maund to Rs7,000/maund, 1,400 bales of Ahmedpur at Rs6,950/maund , Rajanpur’s 400 bales were sold at Rs6,700/maund, and at Rs7,000/maund 400 bales of Rahimyar Khan were sold.
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