Gloomy Pakistan Cotton Trading Market

Tuesday, Karachi, Pakistan Cotton Association (KCA) traders said that the cotton market in Karachi was dull and concentrated in high-quality lint, and the demand for cotton at all levels was increasing, resulting in strong spot prices and large buyers were still making high-quality lint trade, as inventories continued to decrease and spot prices remained strong.

Field agents said the spot price of KAC remained at 6200 rupees / mendeld.

They said that Sindh and Punjab had bought all grades of lint at competitive prices during the transaction, at a price of around 6200 rupees / Mende and 4200 rupees / Mende.

Punjab station two lint price is 4950 rupees / Mende, while at Sindh station, the same grade. Cotton quotations About 4425 rupees / Mende.

Most of the small and medium-sized buyers signed all grade cotton trade in Punjab and Sindh province at a price of about 4450 rupees per mon and 4425 rupees per Mon, respectively, and the price of raw cotton handover is about 4000 rupees per mon. Trading volume is about 7000 packs, and Punjab accounts for more than 90% turnover.

One analyst said that New York Stage cotton The market is slowly returning to a stable mood. Stocks are oversold and demand for major international buyers is growing. New York cotton still affects the international lint price. However, domestic lint prices are still strong, mainly due to large demand, while all grades of lint inventory are gradually decreasing.

He added that cotton prices in New York were stable near 72.20 cents / pound in October, and remained at about 71.30 cents / pounds in December. The Cotlook A index hovered at 81 cents / pound.