Firm trading on cotton market.
KARACHI -- The cotton market maintained steady posture amid moderate trading activity on Friday. Strong demand for quality cotton persisted which helped prices to move higher.
The market mostly reAAmained steady amid moderate to slow trading activity and prices also generally stood firm at overnight level.
The liquidity crunch faced by textile industry owing to non-payment of sales tax refunds is restricting activity, brokers said.
According to market sources, import contracts for around 4 million bales have been finalised by big textile spinners to meet the expected shortfall due to lower production.
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Meanwhile, Indian cotton remained under pressure and during current season the price declined by...
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