All
 

 

Just in:  

You are here: Home»Money & Banking»Pakistan»Cotton market: buyers reluctant to make deals amid rising rates

Cotton market: buyers reluctant to make deals amid rising rates

Buyers refrained from making new deals at the current levels on the cotton market on Saturday, dealers said. The official spot rate maintained last level at Rs 6,700, they added. In the ready session, only one deal of 600 bales from Alipur done at Rs 7000, dealers said.

Some dealers said that most of the millers were on the sidelines due to continued rise in the rates. Cotton analyst, Naseem Usman said that globally, prices of cotton were down but locally, shortage of best quality, barred the buyers from fresh deals, some brokers said.

Reuters adds: The NY cotton futures closed lower in New York on Friday and touched a more than a week low after the US Department of Agriculture forecast higher production, lower demand and rising inventories for the upcoming season. The most-active July cotton contract on ICE Futures US settled down 0.69 cents, or 0.74 percent, at 92.36 cents per lb. The session's low was 92 cents, the lowest since April 29. For the week, the July contract, the market's second-month position, was down 2 percent.





Copyright Business Recorder, 2014



 



 
Index Closing Chg%
Arrow DJIA 16,493.37 0.42
Arrow Nasdaq 4,352.64 0.39
Arrow S&P 1,925.15 0.29
Arrow FTSE 6,679.18 0.76
Arrow DAX 9,210.08 2.10
Arrow CAC-40 4,202.78 1.02
Arrow Nikkei 15,523.00 0.63
Arrow H.Seng 24,532.43 0.91
Arrow Sensex 25,480.84 1.60





where to buy

cheap wedding dresses

online - weddingdresstrend.com

Buy cheap Nike Mercurials cleats at mercurialscleats.com
cheap wedding dresses on SiteSteer.com - Best Online Wedding Store


Banking Review 2013


Buy direct from

China free shipping trade platform

Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln