Cotton unchanged

Karachi : Slow trading activity continued at the Karachi Cotton Exchange on Tuesday, while spot rates remained unchanged.

The spot rates stood firm at Rs7,500/maund (37.324kg) and Rs8,038/40kg. Ex-Karachi rates also increased to Rs7,645/maund and Rs8,193/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.

An analyst said the market will continue mix trend in the coming days, as ginners are left with smaller quantities, while big mills are relying on imports.

Karachi cotton market recorded four transactions of around 2,500 bales at a price of Rs5,800 to Rs7,400/maund. Deals included 1,000 bales of Sanghar at Rs5,800 to Rs6,000/maund, 708 bales of Vehari at Rs6,400, 400 bales of Burewala at Rs6,300 and 200 bales of Shahar Sultan exchanged hands at Rs7,400/maund.