MULTAN: Trading remained slow and restricted on the cotton market on Tuesday as buyers and sellers adopted the wait and see approach. The price line was firm and the Karachi Cotton Association also kept its spot rate unchanged at Rs8,900.

Cotton experts blamed growing tensions between the US and Iran for dull trading and noted that many exporters are finding it dif ficult to booking containers on ships since the last two days. In case of war, cargo movements will be halted as these ships go through the same route where tensions are currently high.

Meanwhile, a Chinese delegation is scheduled to visit America on January 13. There are strong chances of a breakthroughovertheissue oftariffs.

China is the largest buyer of American cotton and in case the matter is resolved, cotton prices all over the world including Pakistan could increase.

According to market sources, the arrival of imported cotton is expected from January 15. An increase of up to Rs300 in the prices of low quality cotton (which will be mixed with imported lint) is being witnessed. However prices of phutti (seed cotton) remained firmly pegged between Rs3,800-4,800 in Punjab and Rs3,300-4,650 in Sindh.

The following deals were reported to have changed hands on ready counter: 600 bales, station Ghotki, at Rs9,300; 400, Daharki, at Rs9,100; 3,200 bales, Mehrabpur, at Rs8,000; 1,000 bales, Rahim Yar Khan, at Rs9,150; 400 bales, Sadigabad, at Rs9,125; 400 bales, Khanpur, at Rs9,050; 600 bales, H aroonabad, at Rs8,500; 400 bales, Shaher Sultan, at Rs8,000; and 400 bales, Kabirwala, at Rs8,200.