Other brokers said that if cotton arrivals improved further, prices may show more weakness in days to come. Reuters adds: ICE cotton futures fell more than three percent on Monday on profit taking ahead of a monthly crop supply and demand report from the U.S. government which is expected to show a large natural fiber crop. Cotton contracts for December settled down 2.48 cent at 72.11 cents per lb. It traded within a range of 71.59 and 75.45 cents a lb. December prices slumped 3.32 percent, its biggest one-day percentage fall since the release of last month's WASDE report on August 10. Total futures market volume fell by 2,212 to 33,679 lots. Data showed total open interest gained 5,289 to 246,407 contracts in the previous session.
The following deals reported: 1400 bales of cotton from Mirpurkhas sold at Rs 5925/6100, 200 bales from Jhole at Rs 6000, 1200 bales from Kotri at Rs 6000/6050,1600 bales from Hyderabad at Rs 6000/6050, 2000 bales from Shahdadpur at Rs 6000/6075, 1800 bales from Sanghar at Rs 6000/6075, 2600 bales from Tando Adam at Rs 6050/6100, 1000 bales from Nawabshah at Rs 6100, 200 bales from Dulatpur at Rs 6100, 800 bales from Haroonabad at Rs 6200, 600 bales from Toba Tek Singh, 800 bales from Mongi Bangla, 1800 bales from Burewala, 800 bales from Hasilpur, 200 bales from Gaggo Mandi, 400 bales from Layyah all finalised at the same rates, 2200 bales from Vehari, 1200 bales from Alipur, 400 bales from Kabbirwali and 400 bales from Dera Ghazi Khan all sold at Rs 6225, dealers said.
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The KCA Official Spot Rate for Local Dealings in Pakistan Rupees
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FOR BASE GRADE 3 STAPLE LENGTH 1-1/16"
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MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL
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Rate Ex-Gin Upcountry Spot Rate Spot Rate Difference
For Price Ex-Karachi Ex. KHI. As Ex-Karachi
on 11.09.2017
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37.324 kg 6,050 145 6,195 6,295 - 100/-
Equivalent
40 kgs 6,484 155 6,639 6,746 - 107/-
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Copyright Business Recorder, 2017