| Cotton trading restrained, but prices in buoyant mood KARACHI (January 02 2004): The ginners may have been tempted to revise cotton prices as cotton futures rose sharply for the second time, but the spinners' quick reaction appears to have restrained them for the day, said relevant sources on Thursday.
The official spot rate of grade III cotton maintained Rs 3225 level without ST and upcountry expenses.
In New York cotton futures rose fractionally in both cases, such as March was up 0.70 cent to 75.05, and May was up 0.71 cent to 76.13 cents a pound.
Some of the deals struck on last day of the year 2003 were 200 bales of Burewalla at Rs 3300; 200 bales of Bahawalpur, 400 bales of Haroonabad and 500 bales of Dera Ghazi Khan at Rs 3200.
Courtesy Business
Recorder
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