Moderate trading was witnessed at lint market in Pakistan with buyers making deals for better grades on slightly higher price amid changing spot rate during trading sessions past week. Buyers also made some forward deals on back of grade issue at around Rs 5,050 per maund to Rs 5,075 per maund, traders said on Saturday.
According to floor brokers, prices remained within the reach of buyers with some cautious activity. The Karachi Cotton Association (KCA)’s spot rate remained firm to stay at Rs 4,550 per maund.
Sellers withholding second grade stuff at main stations of Punjab and Sindh offered commodity to buyers at around Rs 4,900 per maund while majority of the ginneries produced all grades on back of subtle influx of cottonseed.
Trading at leading stations remained selective due to paucity of fine and second grade while ginneries focused their activities making second grade stuff.
During past week buyers made deals for all grades on cautious note at around Rs 4,525 per maund to Rs 4,575 per maund besides demand for fine grades remained higher.
During trading past week mills and spinners purchased all grade while potential buyers remained entangled in price war due to slower arrival of cottonseed and on shrinking of better grade, floor brokers said.
The trade people said that price stability in cottonseed would provide an opportunity to the ginners to start bargaining, but most of them would prefer to negotiate on normal terms.
As per Shakeel Ahmad a fibre expert, prices of better grade cotton likely to stay in next sessions at around Rs 5,075 to 5,100 per maund, as most of the leading ginners to bring out stockpile of better grades.
Trading on Saturday remained selective in all stations and around 200 bales changed hands during trading session in Punjab and Sindh stations.
Most of the deals changed hands at around Rs 4,500 to Rs 4,525 per maund while second grade lint fetched around Rs 4,975 per maund. During trading sessions most of the medium sized ginning units (15) ginned all grades as they produced more than 6,900 bales.
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