At leading stations of Punjab and Sindh, better grades of cotton fetched above Rs 7,075 per maund and deals for second grade of lint were matured above Rs 7,000 per maund during trading session. Demand for better grades of lint would keep market sentiments in green till the time when second shipment of import more than 100,000 bales could arrive.
Buyers remained eager for better grades on back of shrinking stocks and higher import cost while physical prices remained firm on demand for all grades of cotton. Buyers with liquidity made a-month forward deals for second grade of cotton at around Rs 6,950 per maund while mills purchased better stocks at around Rs 7,025 per maund.
The ginning units produced second grade of lint to around 60 percent of the production to 1,800 bales on their asking prices around at Rs 7,000 per maund while arrival of cottonseed remained normal.
Majority of secondary buyers bought all grades of cotton at around Rs 6,500 per maund and Rs 6,700 per maund. Punjab buyers made deals for all grades of cotton at around Rs 6,675 per maund to Rs 6,700 per maund during trading session in Sindh and Punjab stations.
The textile sector and especially garment made-up sector is in dire need of better grades for end products.
Private sector commercial exporters made deals at Rs 6,500 per maund to Rs 6,550 per maund. Raw grades of lint changed hands at Rs 5,975 per maund depending on trash level during trading session.
In Kerb market trading took place in a range of Rs 6,650 per maund to Rs 6,675 per maund.
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