Daily Times

KARACHI: Buyers made deals for better and second grades of lint on premium price while buying in second grade of lint remained on higher side with firm physical prices during past week, traders at Karachi Cotton Association (KCA) said Saturday.

Buyers also bought all qualities on slightly higher price above spot rate during six trading sessions and market volumes also showed 25 percent increase comparing to previous past week to 27,000 bales of cotton.

Spot rate at KCA stood firm and the majority of settlements declared at Rs 6,800 per maund to Rs 7.100 per maund while better grade of lint fetched over Rs 7,225 per maund.

Trading Corporation of Pakistan (TCP) remained on sideline to secure interest of weak ginners during trading.

Lint market sentiments remained on stronger side due to steady trend in New York Cotton Market besides better influx of grade of cottonseed in ginneries.

Private sector commercial exporters consolidated their long positions and bought lint of all qualities during the trading sessions at around Rs 6,525 per maund.

Fine grades of lint were on shrinking and physical prices would likely to remain in firm zone despite the fact that import orders have started arriving on port.

Published in Daily Times, March 4^th 2018.