By admin       2018-03-27

Prices held week-end's firmness on the cotton market on Monday in the process of trading activity, dealers said. Official spot rate was unchanged at Rs 7600, they added. In both Sindh and Punjab prices were at Rs 2800-3100, they said. In the ready session, over 2000 bales of cotton finalised between Rs 6400-7900, they said. Some cotton experts said that the ginners who were feared about the losses of weight and quality of cotton preferring to sell the commodity at present levels. Quality of cotton is suffering from hot weather in the country, they said and adding that it looks that most of the ginners don't want to adopt wait-and-see attitude to gain big profit. We can say that the ginners were active sellers at the present levels after having lost all hopes about end-season price flare-up, they said. According to market sources, rupee's depreciation versus the dollar helped the prices of cotton yarn to go slightly higher. Cotton analyst, Naseem Usman said current season is near to close, so that the spinners were trying to lay hands over the low variety to cover the urgent requirements. Adds Reuters: Cotton prices moved both ways in the international markets. The following deals reported: 200 bales of cotton from Rahim Yar Khan at Rs 7900, 400 bales from Khanpur at Rs 7900, 1000 bales from Haroonabad at Rs 6400/6700 and 200 bales from Vehari at Rs 6800, they said

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