Karachi
Dull trading prevailed at the Karachi Cotton Exchange on Thursday, while spot rates remained firm.
The spot rates remained firm at Rs6,650/maund (37.324kg) and Rs7,127/40kg. Ex-Karachi rates also remained unchanged at Rs6,785/maund and Rs7,272/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.
An analyst said the prices of lint across the globe are at the peak of the season that had also left an impact over cotton prices in Pakistan.
“(The) US and Indian markets are going up, while China is stable,” he said. “I think, prices will not increase further, as yarn and cloth manufacturing will not be feasible at this stage.”
KCE recorded three transactions of around 2,500 bales in between Rs6,800 to Rs7,000/maund.
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