Spinners were on sidelines to assess the situation arising out of sharp jump in cotton prices just ahead of ginners fortnightly statement on arrival, relevant sources said on Saturday.
No fresh deal was furnished, they said.
The official spot rate of grade III cotton was pushed up by Rs 50 to Rs 3375 without ST and upcountry expenses.
Trading in New York was not held owing to New Year's Day and week-end holidays.
Some of the deals struck on Friday were: 5400 bales of Upper Sindh at Rs 3350/3400, 4000 bales of RYK at Rs 3300/3400 and 1000 bales of Haroonabad at Rs 3300.
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The KCA Official Spot Rate for Local Dealings in Pak Rupees
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FOR BASE GRADE 3 STAPLE LENGTH 1-1/32" MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL
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Ex-Gin Prices Up-country Spot Rate Ex-Karachi
Rate Ex-Gin Including Expenses Including
for Price Sale Tax @ 15% Sales Tax @ 15%
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37.32 Kgs 3325.00 3823.75 50 3873.75
Equivalent --------------------------------------------------------------------------------------
40 Kgs 3563.00 4097.45 50 4147.45
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