Buying remains firm with higher demand for better grade

YarnsandFibers News Bureau 2018-01-23 14:00:00 – Karachi

During trading session at leading stations of lint market in Punjab and Sindh, buying remained firm with demand for better grades of cotton which fetched a premium price. Buyers purchased better grades of cotton above Rs 7,675 per maund and deals for second grade of lint changed hands above Rs 7,475 per maund.

Mills bought better grades of cotton at around Rs 7,525 per maund while spinners purchased better stocks at around Rs 7,525 per maund. The ginning units produced better grades of lint on demand while 3,600 bales changed hands during trading. Arrival of cottonseed would remain normal during next coming session.

The secondary buyers made deals for all grades of cotton at around Rs 6,500 per maund and Rs 6,650 per maund.

Sindh and Punjab buyers made month-delivery forward deals for all grades of cotton at around Rs 6,600 per maund to Rs 6,650 per maund in anticipation of further increase in prices during next trading sessions.

Physical prices would remain firm on demand for all grades of cotton that would keep sellers in driving seat while bottom line prices likely to stand firm.

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.

Ex-gin price per maund remained firm at Rs 7,500 per maund. In Kerb market trading took place in a range of Rs 6,625 per maund to Rs 6,700 per maund.

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