Lint trading on Pakistan market remained dreary past week

YarnsandFibers News Bureau, 2014-08-03 12:00:00 - Karachi

News Tags: Cotton market, cottonseed, ginner, grower, Karachi Cotton Association, lint trading, power load shedding, transport

Karachi

Lint trading at main stations of Punjab and Sindh remained dreary due during three days past week to absence of workforce, non-availability of transport and power load shedding.
 
Spot rate was firm with no active physical trading on back of Eid holidays, traders said on Saturday.
 
During past week the buyers made deals for fine bales for immediate use besides purchased all grades in order to fortify their inventories, traders at Karachi Cotton Association (KCA) said.
 
Karachi Cotton Association kept the spot rate at Rs 5,700 per maund in order to help weak growers and ginners to get better prices besides support baseline prices.
 
During thin trading sessions mills bought fine grade while other buyers remained entangled in price war due to slower arrival of cottonseed on shrinking of better grade, floor brokers said.
 
The trade people said price stability in cottonseed would provide an opportunity to the ginners to start bargaining, but most of them would prefer to negotiate on normal terms.
 
By the mid August 2014, demand for better grade cotton is likely to increase by 2 percent to 90,000 bales, as most of the leading ginners will bring out stockpile of better grades.
 
This probably will be due to the demand from textile sector for production of textile made ups and garments and reportedly there would be no better grade by August-end.
 
During trading sessions most of the medium sized ginning units (21) ginned all grades as they produced more than 9,000 bales.
 
Arrival of better grade cottonseed during past week at Punjab and Sindh stations remained thin and general prices stood in firm frame, while trading on Saturday remained dull in all stations .
 
Around 200 bales changed hands during trading session in Punjab and Sindh stations. Most of the deals changed hands at around Rs 5,975 to Rs 6,325 per maund while second grade lint fetched around Rs 6,100 per maund.
 
On international front, the New York October Futures 2014 closed at around 70 cents per pound and Cotlook A index was floating around 84 cents per pound.

0

News Tags: Cotton market, cottonseed, ginner, grower, Karachi Cotton Association, lint trading, power load shedding, transport

Karachi

Lint trading at main stations of Punjab and Sindh remained dreary due during three days past week to absence of workforce, non-availability of transport and power load shedding.
 
Spot rate was firm with no active physical trading on back of Eid holidays, traders said on Saturday.
 
During past week the buyers made deals for fine bales for immediate use besides purchased all grades in order to fortify their inventories, traders at Karachi Cotton Association (KCA) said.
 
Karachi Cotton Association kept the spot rate at Rs 5,700 per maund in order to help weak growers and ginners to get better prices besides support baseline prices.
 
During thin trading sessions mills bought fine grade while other buyers remained entangled in price war due to slower arrival of cottonseed on shrinking of better grade, floor brokers said.
 
The trade people said price stability in cottonseed would provide an opportunity to the ginners to start bargaining, but most of them would prefer to negotiate on normal terms.
 
By the mid August 2014, demand for better grade cotton is likely to increase by 2 percent to 90,000 bales, as most of the leading ginners will bring out stockpile of better grades.
 
This probably will be due to the demand from textile sector for production of textile made ups and garments and reportedly there would be no better grade by August-end.
 
During trading sessions most of the medium sized ginning units (21) ginned all grades as they produced more than 9,000 bales.
 
Arrival of better grade cottonseed during past week at Punjab and Sindh stations remained thin and general prices stood in firm frame, while trading on Saturday remained dull in all stations .
 
Around 200 bales changed hands during trading session in Punjab and Sindh stations. Most of the deals changed hands at around Rs 5,975 to Rs 6,325 per maund while second grade lint fetched around Rs 6,100 per maund.
 
On international front, the New York October Futures 2014 closed at around 70 cents per pound and Cotlook A index was floating around 84 cents per pound.

0

News Tags: Cotton market, cottonseed, ginner, grower, Karachi Cotton Association, lint trading, power load shedding, transport

 
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