Pakistan: local market steady

Conditions in the local market have remained more or less unchanged as most mills are still on the sidelines. Spinners are awaiting some stability in prices before making further purchasing decisions. Ginners have remained tight sellers in view of firm seed cotton prices.

Limited business for mainly lower grade Sindh cotton has been reported around Rs. 14,500/16,000 per maund, depending on quality. Offers for better grade cotton are slightly weaker at the top end of the range, at Rs. 16,500/17,500 per maund ex gin, depending on delivery and quality.

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