Thecottonprices recoveredabiton Tuesday, as theKarachiCottonExchange increased the spot prices by Rs50 to Rs6,250/maund. Cotton prices had been falling in the last couple of days, which attracted some buying fromthe spinners, but the overall sentiment remained devoid of enthusiasm due to uncertain global and domestic market situation. The tur**ver declined significantly as 7,100 bales were traded in Sindh and Punjab. The spot rates surged by Rs50/maund, which was traded at Rs6,250 to Rs6,350. Brokers said phutti (seed cotton) has started arriving in themarkets, but the spinners and exporters remained cautious in buying and making deals. Analysts said the US government export projections are being called into question, as the pace of Chinese imports demand slows.
07-27-2016, 06:51 AM
Cotton*prices recover
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