Active trading continues amid firm prices at cotton market

YarnsandFibers News Bureau 2017-08-11 16:00:00 – Karachi

At lint market, buyers made majority deals which were grade-selective while some buyers made deals for second grade stuff on premium price. Forward deals also changed hands as buyers consolidated inventories in Sindh and Punjab stations during trading session, floor brokers said.

Buyers made deals on slightly higher price on shrinking better grades of lint that also kept general prices in green zone. Buyers also made deals for all grades besides deals for fine and second grade lint for blending purpose changed hands at around Rs 6,625 per maund to Rs 6,650 per maund during the trading session.

The Karachi Cotton Association (KCA) spot rate remained intact at Rs 6,450 per maund. According to KCA, 200 bales of Multan changed hands at Rs 6,450 per maund, 200 bales of Hyderabad at Rs 6,375 per maund, 200 bales of upper Sindh at Rs 6,400 per maund and 200 bales of southern Punjab at Rs 6,625 per maund.

At the Karachi Cotton Exchange on Thursday, trading continued to remain active while spot rates remained unchanged at Rs6,450/maund (37.324kg) and Rs6,912/40kg. Ex-Karachi rates also remained unchanged at Rs6,595/maund and Rs7,067/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.

KCE recorded 17 transactions of around 15,000 bales at a price of Rs6,450 to Rs6,700/maund. Transactions were recorded from Mirpurkhas, Sanghar, Hyderabad, Kotri, Shahdadpur, Tando Adam, Sinjhoro, Khadro, Moro, Burewala, Mian Channu, Haroonabad, Khanewal, Gojra, Sahiwal, Vehari and Chichawatni.

The ginners of Punjab offered cotton of all grades to the buyers around Rs 5,975 per maund to Rs 6,750 per maund while ginners of Sindh offered raw grade of lint to the buyers around Rs 5,975 per maund depending on trash level.

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