KARACHI (March 16 2004): A burst of trading activity was marked on the cotton market on Monday where spinners returned, with a vengeance, relevant sources said.

The official spot rate of cotton was unchanged at Rs 3000 without ST and upcountry expenses.

Over 10,000 bales of cotton changed hands at prices ranging between Rs 2750 and Rs 3100.

The spinners who had been waiting for a softer undertone, almost pounced over available lots after several days of evasion.

Following deals were struck: 400 bales of Shahzadpur at Rs 2750; 400 bales of Nawabshah at Rs 2925 on one-month credit; 1000 bales of Daherki, Mehrabpur K-68 Khanewal and Mailsi were done at Rs 3050 ,Rs 2850, Rs 3000, Rs 3000 and Rs 2900, respectively; 1000 bales of Mehrabpur at unspecified rate; 3000 bales of Haroonabad at Rs 2800; 400 bales of RYK at Rs 3000; and 200 bales of Khanpur at Rs 3100.

Courtesy Business Recorder