Cotton prices steady.

KARACHI -- Amid slow trading, the cotton market on Friday remained steady as lint prices generally remained fixed around overnight structure. Overall the underlying sentiment remains weak and outlook uncertain.

Trading remained focused around quality cotton and some leading textile spinning groups managed to get hold of big lot deals of quality lint.

According to market sources, the nearing of bank closing date on Dec 31, 2019 has slowed down trading activity and money circulation in the markets has declined.

Cotton analysts believe that in coming days lint prices would surge on higher demand but in case the government reduces or withdraws duty and taxes on import of cotton it would bring rates under pressure.

Ginners are strongly opposing withdrawal of duty and taxes on import of cotton and demand that till such time domestic stocks do not get exhausted the...