KARACHI: Buyers made deals on selective note depending on grade issue during trading session with firm physical prices at lint market, fibre traders said. Grade issue kept the leading buyers to make cautious deals while market’s sentiments remained steady, floor brokers said. Forward trading for a month period also took place in new crop, traders at the Karachi Cotton Association (KCA) said. KCA kept the spot rate intact at Rs 6,450 per maund in order to provide support to weak stakeholders of raw grade to ward off minimal price level, said floor brokers. During the trading session, buyers in Sindh and Punjab stations made deals for lint on cautious note while sellers offered second grade of lint at around Rs 6,600 per maund to Rs 6,625 per maund on increasing demand and in order to capitalise maximum returns on their proceeds, floor brokers said. Buyer remained cautious in making any big deal as they only made deals according to their immediate need of lint in anticipation of decline in spot rate, they added. Mills and spinners in Sindh and Punjab stations made deals for better grades on competitive price at around Rs 6,650 per maund to Rs 6,700 per maund while secondary buyers made deals for all grades in Punjab and Sindh stations at around Rs 5,975 per maund to Rs 6,225 per maund, traders said. The textile sector is facing high cost of doing business and power load shedding that puts industrial activity dull. Importing better and second grade of lint is still in the limelight as it has to accomplish exports orders under Generalised System of Preferences plus status while domestic fine stuff on shrinking that would helpful on valuation, said Shakeel Ahmad a fibre analyst. Due to grade issue in parts of Sindh and Punjab stations buyers made forward deals for all grades of lint at around Rs 6,600 per maund to Rs 6,625 per maund. More than 600 bales changed hands with more than 60 percent of Punjab’s share in trading. New York October Futures 2017 contract stood at around 70 cents per pound. December Futures 2017 contract at 70 cents per pound and Cotlook A Index was hovering around 85 cents per pound. Published in Daily Times, July 28th 2017.