Karachi Cotton Association (KCA) saw another day of price stability as cotton price stayed at Rs2525 per maund today.
In ready cotton transactions, on February 1, 2006, around 1000 bales changed hands at APE for Rs2535/2550, 1000 bales at Ghotki for Rs2550 and 1000 bales at SDK for Rs2550 per maund.
According to Cotlook Indices, A Index stood at 59.45 and B Index was recorded at 57.35 on January 31, 2006.
New York Cotton Futures Market Closing Delivery released yesterday shows positive picture for March and May.
Opening price for March 2006 will be $55.25, high and low levels will be $55.80 and 54.70 respectively, previous rate will be $55.17, will close at $55.72 with an increase of $0.55.
In May 2006, opening price will be $56.60, high and low levels will be $57.23 and $56.05; previous rate will be $56.49, will close at $57.14 with increase of $0.65.
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Karachi Cotton Association
marketing@alchempro.com
