KARACHI: Buyers remained on the sidelines on the grade issue and suspension of activities at most of the ginning units on account of the start of the Eidul Fitr holidays. However some buying in better grades of lint changed hands at a premium price during trading at the cotton market, traders said. Week long holidays and moving of workforce of the ginneries to their respective native villages has started. The KCA spot rate stayed firm at Rs 6,600 per maund. The leading buyers bought second grade of lint for blending purpose at around Rs 6,675 per maund, floor brokers said. They said more than 200 bales changed hands while better quality cotton fetched a high price of around Rs 6,775 per maund. A senior trader, Ghulam Rabbani said, the ginners on sensing improving demand for better lots after Eid holidays has stopped bringing out better volumes in the market. The physical price fixation of seed cotton would also determine the lint prices per maund after resumption market activities. Shrinking better stocks amid growing demand for all qualities and price firmness in New York Future market, is definitely affecting the domestic market, Rabbani said. He said around 100,000 seed cotton is left, however the prices are firm and there seems no immediate panic in the market. Textile and apparel sector remained eyeing on second arrival of imported lint on back of growing demand of cloth and textile made ups. A senior broker said the physical market price would remain around at Rs 6,050 per maund and Rs 6,800 per maund. Some ready market deals also changed hands above prevailing spot rates during the trading session. According to KCA, 100 bales of Sanghar changed hands at Rs 6,625 per maund, 100 bales of Rahimyar Khan at Rs 6,500 per maund, 100 bales of southern Punjab at Rs 6,525 per maund, 100 bales of upper Sindh at Rs 6,375 per maund and 200 bales of southern Punjab at Rs 6,675 per maund. Sellers remained on bargaining mood and avoided any deal, however leading ginners capitalised maximum returns on their after Eid-proceeds in advance, brokers said. Private sector commercial exporters remained on sidelines and made a month forward deals at around Rs 6,075 per maund, traders said. New York July Futures 2107 contract closed at 74 cents per pound, October Futures 2017 contract at 75 cents per pound and Cotlook A Index was hovering around 84 cents per pound. Published in Daily Times, June 24th, 2017.