Cotton buying firm during trading session

During the trading session, buyers bought all qualities of lint offered by the ginners, leading ginners sensing future demand of quality lint offered few stocks on high prices to the buyers. While, spinners bought quality cotton on slightly higher prices during the session.

The cotton trading remained firm amid steady spot rate and around 1,500 bales changed hands.

Ghulam Rabbani, a senior trader said that the buyers were accepting a bit higher prices as the leading millers bought around 900 bales at Rs around 6,575 per maund during the session.

He said that the leading buyers would remain eager for quality lint on slightly higher prices on the back of growing demand of garments and yarn.

At the Karachi Cotton Association (KCA) spot rate remained intact at Rs 6,200 per maund. Around 200 bales of upper Sindh changed hands at Rs 6,250 per maund, 200 bales of Sanghar at Rs 6,575 per maund, 200 bales of Yazman at Rs 6,325 per maund and 200 bales of Multan changed hands at Rs 6,275 per maund.

According to senior broker, the private sector commercial exporters of Sindh and Punjab made deals for quality cotton at around Rs 6,575 per maund while ginners of Sindh offered raw lint to the buyers around Rs 5,975 per maund, depending on trash level.