KARACHI: Cotton prices remained steady on Monday, mainly because of small-lot deals by small spinners having no ability to import cotton owing to weak finances.

The world cotton markets also maintained previous posture and generally closed on higher rates resulting in slow trading activity. With no clear picture emerging on production and consumption the world cotton rates are currently hovering on higher side, brokers said.

Consequently, small spinners running short of cotton supply intermittently picked lots of their choice to meet their demand. Big spinners are preoccupied in imports of cotton from different countries.

The Karachi Cotton Association`s spot rates remained unchanged. Major deals on the ready counter were: 550 bales from Rohri at Rs6,150, 683 bales Saleh Pat at Rs6,700, 700 bales Bahawalnagar at R s6,700, 1,000 bales Rahimyar Khan at Rs6,950, 1,400 bales Sadigabad at Rs6,950 and 400 bales Haroonabad at Rs7,000.