Moderate cotton trading witnessed amid firm physical prices

YarnsandFibers News Bureau 2017-11-09 13:00:00 – Karachi

Moderate cotton trading witnessed amid fine grades of lint in focus, during trading session in Sindh and Punjab stations. Demand for better grades of cotton remained on the higher side during trading session and spinners purchased the commodity for blending purposes as well as to reinforce their long positions.

Buyers made deals for all grades of cotton that kept market’s bottom line prices firm. Buyers also made forward deals for second grade of lint at around Rs 6,425-Rs 6,450 per maund.

Secondary buyers made deals for all grades of lint at around Rs 6,100-Rs 6,175 per maund, during trading session at Punjab and Sindh stations.

Private sector commercial exporters made deals at Rs 6,000-Rs 6,100 per maund.

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

Around 3,600 cotton bales changed hands while ex-gin price of cotton remained firm at Rs 6,400 per maund. In kerb market, trading took place in the range of Rs 6,000-Rs 6,200 per maund.

Buyers also made one month forward deals at around Rs 6,175-Rs 6,200 per maund. 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.

In the next coming trading session due to less availability of better grades, would likely keep prices firm at around Rs 6,400-Rs 6,575 per maund.

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