Slow trading at cotton market

By our correspondents
June 16, 2016

Karachi

Trading activity at the cotton market remained lackluster on Wednesday, as the demand was halted, while prices were almost flattish.

The local market recorded buying of 2,431 bales as compared to 5,850 bales changed hand in previous session.

Though, most transactions were reported in fine quality lint, the volume remained low. Prices were almost stable and quoted at Rs5,360 to Rs5,850/maund.   

Brokers said the market remained dull due to slow buying interest by local mills and spinners in the midst of bearish sentiments.

Some textile mills have been avoiding big deals and buying the commodity only to meet their immediate demands for the last few sessions.

Brokers said the market is expected to face mixed sentiments with moving as per the demand for the cotton yarn in the market.