Cotton firm

By Our Correspondent
February 25, 2018

Karachi : Dull trading continued at the Karachi Cotton Exchange on Saturday, while spot rates remained firm.

The spot rates remained unchanged at Rs6,900/maund (37.324kg) and Rs7,395/40kg.

Ex-Karachi rates also stood firm at Rs7,045/maund and Rs7,550/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.

Naseem Usman, chairman of the Karachi Cotton Brokers Association (KCBA), said prices have become stable in the local market after yarn prices reached stable position.

“Prices of cotton increased in the US and Indian markets, while China remained stable after longer holidays,” he added.

However, the only disturbing matter for the sellers is that the quantity of trade decreased in the local market, he said.

Karachi cotton market recorded only one transaction of 400 bales from Khairpur at Rs6,250/maund.