By admin       2018-04-10

Trading improved at the Karachi Cotton Exchange on Monday, while spot rates increased Rs200/maund.The spot rates increased to Rs7,500/maund (37.324kg) and Rs8,038/40kg. Ex-Karachi rates also rose to Rs7,645/maund and Rs8,193/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.Naseem Usman, chairman of the Karachi Cotton Brokers Association, said that price increase in the spot rates was a sign that mills still required quality lint, whose stocks had declined in the market.Karachi cotton market recorded four transactions of around 4,000 bales only. Of these, 1,400 bales of Mirpur Mathelo were sold at Rs7,500 to Rs7,800/maund, 1,200 bales of Ghotki at Rs7,800, 400 bales of Liaquatpur at Rs7,550 and 933 bales of Khanpur exchanged hands for Rs7,925/maund.

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