Karachi
The Karachi Cotton Exchange (KCE) recorded dull trading on Friday, while spot rates remained unchanged.
The spot rates stood firm at Rs6,450/maund (37.324kg) and Rs6,912/40kg. Ex-Karachi rates also remained unchanged at Rs6,585/maund and Rs7,057/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.
An analyst said the market activity remained slow because of an increase in prices.
“Ginners are not ready to sell at lower rates, while millers are waiting for prices to come down,” he said.
“Despite abolition of four percent regulatory duty on cotton imports, deals are not being materialised because prices have increased there.”
KCE recorded domestic transactions of around 2,500 bales in between Rs6,100/maund to Rs6,700/maund.
Transactions were recorded from Lodhran, DG Khan, Chistian and Mianwali.
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