KARACHI: The cotton market remained listless on Wednesday as shoppers stayed faraway from the buying and selling ring.
because of absence of buying hobby, the undertone turned smooth and outlook, unsure.
The Karachi Cotton association spot costs remained company at Rs8,six hundred in line with maund and no offers have been suggested to have transpired at the ready counter.
Cotton traders have usually confirmed their delight over the government’s circulate to beautify cotton crop size and seek assistance from China in studies.
however, the sentiment remained depressed because of worldwide cotton market slump.
the world leading cotton markets remained below pressure with ny cotton closing at 69.78 cents according to lb with clean losses, the lowest rate of the season.
meanwhile, developments at the home front are not encouraging both.
market reports recommend that spinners are currently worried because of their big inventories of cotton yarn with little demand is emerging from the fee-delivered fabric zone.
The open-quit weaving region is also currently working beneath its normal potential as material call for is low.
published in , February 14th, 2019