Cotton declines
Karachi
Slow trading was witnessed at the Karachi Cotton Exchange on Saturday, while spot rates decreased Rs50/maund.
The spot rates fell to Rs6,700/maund (37.324kg) and Rs7,180/40kg.
Ex-Karachi rates decreased to Rs6,835/maund and Rs7,325/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.
Naseem Usman, chairman of the Karachi Cotton Brokers Association, said that the interest of buyers and sellers remained low in the market, which resulted in a very slow trading.
“Slow trading is the cause of slow activity in the global textile markets,” he added.
He said the new crop would enter the market after three months, while only 250,000 bales were available with the ginners.
New York cotton market recorded mixed trend on all futures.
May futures decreased 1.08 cents to 78.99 cents/pound, while July futures rose 0.22 cents to 79.99 cents/pound.
-
Polar Vortex ‘exceptional’ Disruption: Rare Shift Signals Extreme February Winter -
Which Countries Are Worst And Best In Public Sector AI Race? -
Matthew McConaughey Opens Up About His Painful Battle With THIS -
Emma Stone Reveals She Is ‘too Afraid’ Of Her ‘own Mental Health’ -
China Unveils ‘Star Wars’-like Missile Warship For Space Combat -
King Charles Facing Pressure Inside Palace Over 'Andrew Problem' -
Trump Refuses Apology For Video Depicting Obama As Apes Amid Growing Backlash -
Jesy Nelson Reflects On Leaving Girls' Band Little Mix -
World’s First Pokemon Theme Park Opens In Tokyo, Boosts Japan Tourism -
Waymo Trains Robotaxis In Virtual Cities Using DeepMind’s Genie 3 -
5 Simple Rules To Follow For Smooth, Healthy Hair -
$44 Billion Bitcoin Blunder: Bithumb Exchange Apologizes For Accidental Payout -
Katie Price Ends Public Feud With Ex Peter Andre After 16 Years -
Apple May Bring ChatGPT And Other AI Apps To CarPlay -
Meghan Markle, Prince Harry Likely To Attend Super Bowl Halftime Show 2026 -
AI Next Big Trial: Elon Musk Calls For ‘Galileo Test’ To Prove True Intelligence