By admin       2016-10-20

Prices stabilised on the cotton market on Wednesday in the process of moderate trade activity, dealers said. The official spot rate was unchanged at Rs 6050, dealers said. Phutti rates in Sindh were at Rs 2800-3150 and in Punjab prices of Phutti were available at 3000-3250, as per 40 kg, they said. In ready business, in Sindh, approximately, 12,000 bales of cotton changed hands between Rs 5650 and Rs 6300 and in Punjab, about 18,000 bales changed hands between Rs 6225-6300, they said.According to the market sources, leading mills and spinners managed to lay hands over the fine quality tto meet their near-term needs Cotton analyst, Naseem Usman said that industries may face tough time due to less short supply in winter. The news regarding gas supply particularly in Punjab is not encouraging, the millers appeal to the government to make supply of gas in a proper way, he added.Reuters adds: Cotton futures snapped a four-day rally to settle slightly lower on Tuesday, after marking an over-three week high earlier in the day, weighed down by a steady dollar amid indications of good harvest weather in the cotton belt areas of India and Texas.The following deals reported: 1600 bales from Mirpurkhas at Rs 5650-5750, 1800 bales from Shahdadpur at Rs 5775-5950, 1200 bales from Sanghar at Rs 5800-5825, 1600 bales from Tando Adam finalised at the same rate, 800 bales from Nawabshah at Rs 6050-6075, 400 bales from Bandhi at Rs 6050-6075, 3000 bales from Khairpur at Rs 6200-6250, 1000 bales from Salehpat at Rs 6250, same figure from Rohri at the same rate, 800 bales from Ghotki done at Rs 6300, 200 bales from Toba Tek Singh at Rs 6225, 600 bales from Lodhran at Rs 6250, 800 bales from Burewala at the same rate, 1600 bales from Vehari at Rs 6250-6300, 400 bales from Bahawal Nagar, 600 bales from Chistian, 3400 bales from Mianwali all done at the same level, 400 bales from Fort Abbas finalised at Rs 6275, same figure from Faquirwali done at the same price, 600 bales from Khanewal, 800 bales from Hasilpur, same figure from Ahmedpur, same number from Mian Channo, equal number from Chichawatni, 400 bales from Liaquatpur all done at Rs 6275-6300, same figure from Tonsa Sharif, 1200 bales from Haroonabad, 600 bales from Sadiqabad, 2000 bales from Rajanpur, 1000 bales from Fazilpur, 400 bales from Muhammadpur Dewan and 1000 bales from Rahim Yar Khan all sold at Rs 6300, dealers said.

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