Cotton tepid

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Trading was sluggish at the cotton market on Wednesday.  There was a subdued demand from spinners.  The Karachi Cotton Association reported the trade of more than 600 bales in the ready section. The lint prices hovered between Rs5,250 and 5,850/maund.

Brokers said the market stayed dull and trading volume declined on slow demand for the cotton yarn from spinners and mills.

They said traders remained cautions, making small transactions in the fine variety of cotton.

The spot rate quotation remained unchanged at Rs5,550/maund    The world cotton market ended higher on strong demand.   New York July future contracts quoted at 65.85 cents/pound as against 65.55 cents/pound in previous trade.

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