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Commodities: Slow trading on cotton market
KARACHI: The cotton market on Monday witnessed slow trading as buyers and sellers were marking time to know about future trend of global markets after noticing some correction in Indian cotton prices.
Floor brokers said that there was a sudden fall in activity when trading began on Monday, but prices generally remained firm at weekend level. There were reports that some profit-selling in Indian cotton pushed down prices.
Similarly, the Chinese cotton also reported to have closed easy while the New York cotton market remained closed on account of festival. Nevertheless, some needy spinners tried their utmost to get hold of quality cotton.