Demand for second grade of lint remains dominant during trading session

Demand of second grade of cotton remained dominant during trading, spinners purchased the commodity for blending purpose at Rs 6,425 per maund while the leading buyers made forward deals for second grade of lint at around Rs 6,400 per maund to Rs 6,450 per maund.

Buyers made sizeable deals for second grade of lint during trading session in Sindh and Punjab stations while physical prices remained steady. Buyers also made deals in all grades of cotton that kept market’s volumes moderate.

Mills bought all grades of lint at around 6,200 per maund to Rs 6,225 per maund, during trading session at Punjab and Sindh stations.

Sellers withholding better grades of lint remained in the driving seat as prices stood stable on demand during trading session. Paucity of better grades kept buyers selective while sellers kept maintaining their price level on the higher side amid shrinking of better grades at the ginneries.

Private sector commercial exporters made deals at Rs 6,000 per maund to Rs 6,125 per maund.

Buyers also made one month forward deals at around Rs 6,125 per maund to Rs 6,200 per maund.

Around 3,600 cotton bales changed hands while ex-gin price per maund remained firm at Rs 6,300 per maund. In kerb market, trading took place in the range of Rs 6,000 per maund to Rs 6,225 per maund.

Raw grades of lint changed hands at Rs 5,975 per maund depending on trash level during trading session.