Moderate trading activity seen at the cotton market

Moderate trading activity was witnessed at the cotton market as buyers made deals for quality lint on slightly higher prices at around Rs 5,675 per maund during the trading session and around 360 bales changed hands. The Karachi Cotton Association (KCA) spot rate remained unchanged Rs 5,450 per maund.

The ginners of Punjab offered cotton of all grades to the buyers around Rs 5,000 per maund to Rs 5,100 per maund while ginners of Sindh offered low-grade lint to the buyers around Rs 4,975 per maund.

As per senior trader, Ghulam Rabbani, buyers remained eager for fine grades of cotton while ginning units in Sindh and Punjab stations were maintaining quality on demand from export sector as well as big groups consolidated their long positions.

The market remained in steady tones and buyers increased their purchase in order to consolidate their future positions with fresh fine lots.
In domestic market buyers keep eye on quality lint on the back of growing demand of cloth and yarn.

According to KCA, 100 bales of Sanghar changed hands at Rs 5,100 per maund, 100 bales of Dau at Rs 5,000 per maund, 100 bales of upper Sindh at Rs 5,025 per maund and 100 bales of southern Punjab at Rs 5,275 per maund.