Bullish conditions prevail in cotton market

Karachi, March 01, 2013 (PPI-OT): Bullish conditions have prevailed. An already tight market saw sentiment boosted by yesterday’s strong rise in ICE US cotton futures.

Ginners’ asking prices have been raised (to a range of Rs.6,400/Rs.6,700 per maund, ex-gin, for better lots, Rs.100 more than yesterday) and the inclination to hold back better quality stocks has been reinforced. Although some business has been reported, most mills have refrained from chasing prices higher. The current price range is equivalent to 79.00/83.00 us cents per lb.

For more information, Contact:
Mohammad Shoaib
Cotton World Services
Email ID: mshoaib@cottonworldservices.com
Contact: 03002997979 / 03139202169 / 03002045514
Web: http://cottonworldservices.com/

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