AGL 38.96 Increased By ▲ 0.48 (1.25%)
AIRLINK 203.50 Increased By ▲ 0.48 (0.24%)
BOP 10.16 Decreased By ▼ -0.01 (-0.1%)
CNERGY 6.48 Decreased By ▼ -0.06 (-0.92%)
DCL 9.45 Decreased By ▼ -0.13 (-1.36%)
DFML 39.90 Decreased By ▼ -0.12 (-0.3%)
DGKC 98.70 Increased By ▲ 0.62 (0.63%)
FCCL 35.30 Increased By ▲ 0.34 (0.97%)
FFBL 84.00 Decreased By ▼ -2.43 (-2.81%)
FFL 13.84 Decreased By ▼ -0.06 (-0.43%)
HUBC 131.19 Decreased By ▼ -0.38 (-0.29%)
HUMNL 13.88 Decreased By ▼ -0.14 (-1%)
KEL 5.53 Decreased By ▼ -0.08 (-1.43%)
KOSM 7.33 Increased By ▲ 0.06 (0.83%)
MLCF 46.17 Increased By ▲ 0.58 (1.27%)
NBP 61.10 Decreased By ▼ -5.28 (-7.95%)
OGDC 223.25 Increased By ▲ 2.49 (1.13%)
PAEL 38.97 Increased By ▲ 0.49 (1.27%)
PIBTL 8.74 Decreased By ▼ -0.17 (-1.91%)
PPL 198.50 Increased By ▲ 0.62 (0.31%)
PRL 39.70 Increased By ▲ 0.67 (1.72%)
PTC 25.79 Increased By ▲ 0.32 (1.26%)
SEARL 106.60 Increased By ▲ 3.55 (3.44%)
TELE 8.92 Decreased By ▼ -0.10 (-1.11%)
TOMCL 36.30 Decreased By ▼ -0.11 (-0.3%)
TPLP 14.06 Increased By ▲ 0.31 (2.25%)
TREET 25.15 Increased By ▲ 0.03 (0.12%)
TRG 57.69 Decreased By ▼ -0.35 (-0.6%)
UNITY 33.60 Decreased By ▼ -0.07 (-0.21%)
WTL 1.69 Decreased By ▼ -0.02 (-1.17%)
BR100 11,834 Decreased By -56.5 (-0.48%)
BR30 37,230 Decreased By -126.3 (-0.34%)
KSE100 110,263 Decreased By -806.9 (-0.73%)
KSE30 34,619 Decreased By -289.6 (-0.83%)
Markets Print 2022-06-10

Listless business on cotton market

LAHORE: The local market on Thursday remained steady and the trading volume remained low. Cotton Analyst Naseem...
Published June 10, 2022

LAHORE: The local market on Thursday remained steady and the trading volume remained low. Cotton Analyst Naseem Usman told that rate of cotton in Punjab and Sindh is in between Rs 22000 to Rs 23,000 per maund.

ICE cotton futures rose more than 1% on Wednesday on mill fixations as it tracked a rebound across broader commodity markets.

Cotton contracts for July rose 1.92 cent, or 1.40%, to 138.87 cents per lb, as of 01:25 p.m. ET (17:25 GMT). It traded within a range of 137.07 and 139.41 cents a lb.

“We’re seeing a bit of mill fixations, said Bailey Thomen, cotton risk management associate at StoneX Group. “Hopefully, the easing of lockdowns in China could bring back a bit more demand,” Thomen added. China is a top buyer of US cotton.

Adding to cotton’s support, the prices of corn, soybeans and oil also rose in a commodities rebound, boosting sentiment.

China cotton futures on the Zhengzhou Commodity Exchange were up 0.62 % to 20,370 yuan per tonne.

Total futures market volume fell by 24,997 to 14,821 lots. Data showed total open interest fell 1,183 to 211,503 contracts in the previous session.

The Spot Rate remained unchanged at Rs 21000 per maund. The Polyester Fiber was available at Rs 310 per kg.

Copyright Business Recorder, 2022

Comments

Comments are closed.