Cotton unchanged

Karachi : Slow trading was recorded in the market on Friday, while spot rate remained unchanged. Spot rate remained unchanged at Rs7,500/maund (37.324 kilograms) and Rs8,038/40kg.

Ex-Karachi rates also stood firm at Rs7,645/maund and Rs8,193/40kg after addition of Rs145 and Rs155 as upcountry expenses, respectively.

One analyst said prices would remain down in the coming days, as ginners were left with a very little quantity of quality lint. Currently, they have around 275,000 bales.

Karachi cotton market witnessed only three transactions of around 2,000 bales at a price of Rs6,300 to Rs7,000/maund. Of which, 450 bales from Pir Mehal were sold for Rs6,300 a maund, 900 bales of Mian Channu at Rs6,550 a maund, while 700 bales of Kabirwala were exchanged at Rs6,600 to Rs7,000 a maund.