KARACHI: Better grades of cotton fetched premium prices above spot rate; while buyers also made deals for second grade of lint during trading in Punjab and Sindh. Buyers piled up their inventories, making deals for second grade of cotton amid short supply of better grades of cotton during trading sessions. Demand for better grades of lint kept quality conscious buyers to make forward deals for a month’s delivery period; while spinners purchased the commodity to consolidate their long positions during trading sessions in Punjab and Sindh. Buyers made deals for better grades of lint on premium prices at around Rs 6,625 per maund to strengthen their long positions; while mills made forward deals during trading session in Sindh and Punjab stations. Physical prices remained firm of all grades of cotton that kept market’s sentiments positive while bottom line prices stood steady. Buyers made forward deals for second grade of lint at around Rs 6,550-Rs 6,575 per maund. Second grade of cotton for producing end-products and blending purposes was said to remain in demand in upcoming trading sessions. Textile sector matured import orders for more than 100,000 bales, out of estimated 300,000, to cater to export demands of end-products; while shrinking better grades of lint and possible shortfall in production during crop season would keep buyers on the front foot. Secondary buyers purchased cotton at around Rs 6,000-Rs 6,125 per maund. Sellers withholding better grades of lint capitalised on their produce as better stocks were shrinking. General prices of commodity would stand firm in coming trading sessions on the back of demand for all grades of lint by leading and secondary buyers. Private sector commercial exporters made deals at Rs 6,000-Rs 6,175 per maund. Raw grades of lint changed hands at Rs 5,975 per maund, depending on trash level during trading session. Around 960 cotton bales changed hands while ex-gin price remained firm at Rs 6,500 per maund. In kerb market, trading took place in the range of Rs 6,300-Rs 6,325 per maund. New York Cotton December Futures 2017 contract closed at around 70.29 cents per pound, March Future 2018 contract at 70.29 cents per pound and Cotlook A Index was hovering at 84 cents per pound. Published in Daily Times, November 24nd 2017.