Cotton analyst, Naseem Usman said by and large prices were firm in the local market but rates were mixed in the global markets. In the meantime, cotton arrivals slowed down slightly following the heat waves in both Sindh and Punjab, other experts said. Adds Reuters: ICE cotton inched up on Friday as investors covered their shorts on colder weather forecasts in top US producing region, Texas.
Cotton contracts for December settled up 0.21 cent, or 0.31 percent, at 68.46 cents per lb. It traded within a range of 67.86 and 68.77 cents a lb. During the session, prices dipped below the key 68 cents to touch 67.86 cents a lb, its lowest since August 25.
The following deals reported: 900 bales from Sanghar at Rs 5900-6000, 2000 bales from Shahdadpur at Rs 6000, 1600 bales from Nawabshah at Rs 6125-6150, 1000 bales from Salehput at Rs 6175-2000, 4000 bales from Khaipur at the same rate, 400 bales from Hyderabad at Rs 5900, 1000 bales from Rohri at Rs 6175-6200, 200 bales from Kazi Ahmed at Rs 6150, 800 bales from Kabirwala at Rs 6300, 1200 bales from Haroonabad at Rs 6150-6220, 400 bales from Layyah at Rs 6200, 400 bales from Bahawalpur at Rs 6250, same figure from Chistian at Rs 6275, 600 bales from Burewala at Rs 6250, 200 bales from Yazman Mandi at Rs 6200, 400 bales from Vehari at Rs 6250, 200 bales from Fort Abbas at Rs 6200, same figure from Shadan Lund at Rs 6250, 400 bales from Chichawatni at Rs 6225, 2000 bales from Fazilpur at Rs 6300, 600 bales from Khanewal and 1000 bales from Kajanpur all done at the same rate, 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 22.09.2017
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37.324 kg 6,100 145 6,245 6,245 NIL
Equivalent
40 kgs 6,537 155 6,692 6,692 NIL
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Copyright Business Recorder, 2017