According to Pakistan’s “News” report, due to the serious shortage of lint supply in Pakistani spinning mills, the spot price of cotton per 40 kilograms in the Karachi cotton market on Tuesday (July 6) was as high as 7,609 rupees (about 89 US dollars). And it hit a record high of 7,876 rupees in intraday trading.
Industry insiders in Pakistan predict that the tight lint supply situation will be difficult to alleviate before August 15, and cotton prices will remain bullish. According to other reports, 50 spinning mills across the country have been forced to close due to this impact, and the number of spinning mills closed in the next few days may be as high as 100.
