MULTAN: The cotton market was steady on Tuesday as prices remained firm amid selective trading for quality lint.

Floor brokers said that trading activities slowed as majority of the spinners are considering shutting down their units during Eid holidays.

They said unavailability of electricity to mills and the Greek crisis are two major reasons behind millers’ decision.

The Karachi Cotton Association (KCA) kept its spot rate unchanged at Rs4,850.

Prices of new phutti (seed cotton) in various cities were: Khanewal Rs2425, Burewala Rs2400, Sahiwal Rs2350, Pakpattan Rs2380, Sanghar Rs2375, Hala Rs2350, Mirpur Khas Rs2325, Umer Kot Rs2300, Kunri Rs2300, Tando Allah Yar Rs2350, Badin Rs2350 and Chor Jamali Rs2300.

Major deals finalised on ready counter included: 300 bales Khipro at Rs4700/4750, 1000 bales Mirpur Khas at Rs4700/4775, 1200 bales Sanghar at Rs4700/4800, 600 bales Shahdadpur at Rs4800, 200 bales Burewala at Rs5000/5100, 100 bales Samundri at Rs5000, 1632 bales of old stock Vehari at Rs5000 and 100 bales Harand at Rs5075.

Published in Dawn, July 15th, 2015

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