Trading on the cotton market remained fairly moderate on Thursday where some spinners chased quality lint to meet their near-future demand.
Prices were somewhat stable on the back of sustained buying at the lower level. However, in the absence of buying enthusiasm the activity remained restricted to quality lint.
The reduced activity on the cotton yarn market and rapidly falling petroleum prices are keeping trade and industry perplexed. The spinning industry already foresees polyester yarn prices to fall in sympathy.
Most of the deals were finalised below Rs5,000 per maund and millers’ buying interest was focused on quality lint only.
