Steady trend on cotton market

MULTAN: Cotton prices maintained steady trend on Thursday as spinners and mills were active buyers at the prevailing prices.

According to Nasim Usman, a broker at Karachi Cotton Exchange, prices improved on renewed buying and hoped that lint trading would remain steady till during this holy month, he said.

The Karachi Cotton Association (KCA) kept its official spot rates unchanged at Rs6,655 per maund. Total 3,600 bales were exchanged in Sindh at Rs6,600 while 1,100 bales changed hands in Punjab at Rs6,600 and Rs6,625 per maund. The following transactions were reported on the ready counter on Thursday.

Sindh type: 600 bales, Tando Adam at Rs6,600, 200 bales, Matarai at Rs6,600, 200 bales, Kotri at Rs6,600, 1400 bales, Sanghar at Rs6,600, 600 bales, Mirpurkhas at Rs6,600, 600 bales, Shahdadpur at Rs6,600.

Punjab variety: 200 bales, Khanewal at Rs6,600, 200 bales, Borewala at Rs6,600, 200 bales, Chichawatni at Rs6,600, 100 bales, Arifwala at Rs6,600 and 400 bales, Vehari at Rs6,625.