A moderate trade activity was witnessed on the cotton market on Wednesday in the process of trading, dealers said. The official spot rate was unchanged at Rs 6150, dealers said. In Sindh, seed cotton prices were Rs 2400-3200, they said. In Punjab, phutti rates were at Rs 3100 and Rs 3450, as per 40 kg, they added.
In the ready business nearly 35,000 bales of cotton changed hands between Rs 4400-6400, they said.
Cotton analyst Naseem Usman said that mills were very active in fresh buying of fine quality cotton. Other analyst said that prices fluctuated amid comfortable supply of quality cotton.
Prices were mixed in the international markets due to easy supply of cotton.
Reuters adds: Cotton futures remained nearly flat for the second straight session on Tuesday, ahead of the first notice day for the December contract and amid a steady dollar.
The following deals reported: 400 bales from Tando Adam at Rs 4400, 2000 bales from Khairpur at Rs 6150/6180, 2000 bales from Rohri at Rs 6200, 2000 bales from Salehpat at Rs 6200, 2000 bales from Ghotki at Rs 6350, 2600 bales from Dharki at Rs 6350, 1200 bales from Khanpur Mehar at Rs 6350, 4600 bales from Mianwali at Rs 5925/6025, 400 bales from Kamaliya at Rs 6100, 800 bales from Chistian at Rs 6150, 400 bales from Vehari at Rs 6150, 1200 bales from Fazilpur at Rs 6200, 1200 bales from Rajanpur at Rs 6200, 1200 bales from Mohammedpur Dewan at Rs 6200/6350, 400 bales from Donga Monga at Rs 6225, 7600 bales from Haroonabad at Rs 6225/6325, 1200 bales from Bahawal Nagar at Rs 6240, 600 bales from Faqirwali at Rs 6300, 1000 bales from Ahmedpur at Rs 6300, 400 bales from Bakhar at Rs 6300, 600 bales from Jalalpur at Rs 6300, 600 bales from Shujabad at Rs 6300, 1000 bales from Lodhran at Rs 6300, 600 bales from Khanpur at Rs 6300/6350, 600 bales from Fort Abbas at Rs 6325, 1400 bales from Rahim Yar Khan at Rs 6350, 1200 bales from Sadiqabad at Rs 6350, 600 bales from Khanewal at Rs 6350 and 600 bales from Hasilpur at Rs 6400, dealers said.