KARACHI: The buyers and sellers remained entangled in price war on grade issue while physical lint prices stood firm during trading on cotton market past week, traders said. However during the week, stakeholders indulged in on-line trading while forward deals in second grade of lint remained on higher side amid firm spot rate and strong physical prices during week on week basis, traders at Karachi Cotton Association (KCA) said Saturday. Traders said leading buyers made forward deals for better grades of lint on slightly higher price during trading sessions and market volumes also showed 15 percent increase to 21,000 bales compared to last week. A senior trader at KCA, Ghulam Rabbani said spot rate at KCA remained stable and physical deliveries of the overall settlements made during last week declared at Rs 6,475 per maund on average. The ginning activities mainly focused on producing second grade of lint on higher demand, he added. Better grades of lint would still be in higher demand and likely to fetch over Rs 7,000 per maund in next coming economic activities in Punjab and Sindh stations. He said Trading Corporation of Pakistan remained supportive to secure interest of sellers and ginners during trading at Karachi Cotton Market. He said domestic cotton prices were cheaper than the import price parity to dollar and fine lint remained in focus on back of growing demand by leading mills and spinning units in the country. Te market sentiments would stand firm due to upward trend in New York Cotton besides TCP’s supportive role. He said private sector commercial exporters also consolidated their long positions during the past trading sessions. On Saturday, in the domestic market around 100 bales of Sanghar changed hands at Rs 6,450 per maund, 200 bales between mill to mill changed hands at Rs 6,325 per maund and 100 bales on Karachi delivery basis took place at Rs 6,175 per maund. New York October Futures 2017 contract closed at 70 cents per pound, December Futures 2017 contract closed at 70 cents per pound and Cotlook A Index was settled at 84 cents per pound. Published in Daily Times, July 23rd 2017.