KARACHI: Selective buying on grade issue put trading range-bound while buyers made deals on premium prices. Second grades of cotton on declining also fetched fine price. In addition, general prices of all grades also remained in comfort zone besides buyers made forward deals on dearth of better grades, traders at Karachi Cotton Association (KCA) said. KCA kept the spot rate at Rs 6,900 per maund in order to provide support to weak stakeholders of raw grade to ward off minimal price level. During the trading session, buyers in Sindh and Punjab stations purchased all grades while buyers with less liquidity made deals in raw grades for blending purposes at around Rs 6,100 per maund, depending on trash level. Sellers offered all grades of lint on bargaining rates at around Rs 6,375 per maund to Rs 6,950 per maund in order to capitalise maximum returns on their proceeds. General buyer purchased according to their immediate needs of lint while demand for second grade remained on higher side in anticipation of its shrinking stocks and hike in price. Buyers in Sindh and Punjab stations bought commodity on competitive price at around Rs 6,800 per maund to Rs 6,850 per maund while private sector commercial exporters made deals for all grades in Punjab and Sindh stations at around Rs 6,000 per maund to Rs 6,050 per maund. The inventories of textile sector is on depleting while major units remained active in making deals for second grade of lint to meet export orders. Second import shipment of around 36,000 bales has been matured and bales are expecting to touch port in near March. Cultivation of second grade cottonseed in parts of Sindh and Punjab stations would remain on higher side on increasing demand for blending purpose in coming months. More than 630 bales changed hands with more than 60 percent of Punjab’s share in trading. New York March Future 2018 contract stood at around 83.04 cents per pound, May Futures 2018 contract at 83.34 cents per pound and Cotlook A Index was hovering around 90 cents per pound. Published in Daily Times, February 21st 2018.