| Slowdown marked on cotton market KARACHI (January 14 2004): Slow down was marked in cotton trading on Tuesday (January 13) until normal closing hours, relevant sources said. Prices were showing downward trend, they said.
The official spot rate of grade III cotton was marked at Rs 3225 without ST and upcountry expenses.
Only one deal was reported done at Rs 2925.
Cotton futures in New York were firmed such as March settled at 74.26 cents and May was down 75.40 cents a pound.
Sources informed that prices will rule firm for sometime owing to spinners showing little interest in extending support.
However the only deal was in 200 bales of Sanghar at Rs 2925.
Courtesy Business
Recorder
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