Moderate trading activity seen amid firm physical prices

At lint market although buyers remained focused on better grades but higher demand for second of lint kept trading activities moderate amid firm physical prices. Second grade of lint fetched better price as buyers bought all grades on cautious note, floor brokers said.

Better grades of lint remained in demand on back of depleting stocks and demand for other grades of lint would not gain momentum, as buyers were eyeing influx of better cottonseed in the ginneries.

Buyers made deals for better and second grade of lint at around Rs 6,750 per maund and Rs 6,600 per maund respectively. Raw grade of lint changed hands at around Rs 5,975 per maund, depending on trash level.

Leading mills and spinners made a month forward deals also with sellers withholding fine stuff, floor brokers said.

Second grade lint for blending purpose changed hands at around Rs 6,625 per maund to Rs 6,650 per maund in upper Sindh and southern Punjab stations respectively.

At Karachi Cotton Association (KCA)’s spot rate remained steady and stayed at Rs 6,100 per maund. According to KCA, 100 bales of Yazman changed hands at Rs 6,525 per maund, 100 bales of Mirpurkhas at Rs 6,375 per maund, 100 bales of upper Sindh at Rs 6,575 per maund and 100 bales of southern Punjab at Rs 6,725 per maund.

While at Karachi Cotton Exchange, slow trading continued on Tuesday. The spot rate increased Rs50 a maund (37.324 kg) and Rs6,591/40-kg. Ex-Karachi rates also increased to Rs6,285/maund and Rs6,736/40-kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.

Karachi cotton market recorded four transactions of 3,000 bales from Sindh crop only at a price of Rs6,300/maund to Rs6,350/maund. Of which, 400 bales of Hyderabad, 800 bales of Tando Adam, 600 bales of Sanghar and 1,000 bales of Shahdadpur were traded in the market.