KARACHI: The buyers in need of better grades of lint made deals on paying premium price at lint market while market’s sentiments remained steady on forward trading, traders at the Karachi Cotton Association (KCA) said. KCA kept the spot rate intact at Rs 7,600 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 purchased better grades at around Rs 7,775 per maund, while sellers offered all grades of lint at around Rs 5,975 per maund to Rs 7,850 per maund in order to capitalise maximum returns on their proceeds, brokers said. Demand for second grade of lint would remain on high side as spinners and mills need better stuff for blending purpose, said floor brokers. Most of the buyers made deals according to their immediate need of lint on back of grade issue and in anticipation of decline in spot rate, they added. Buyers in Sindh and Punjab stations made one month forward deals for all grades on competitive price at around Rs 6,325 per maund to Rs 6,925 per maund while private sector commercial exporters bought all grades in Punjab and Sindh stations at around Rs 5,975 per maund to Rs 6,625 per aund, traders said. The textile sector is in need of better and second grade lint as it has to accomplish exports orders. Cotton import by textile sector would go up and demand for fine grades would also increase. Due to grade issue in parts of Sindh and Punjab stations, buyers made forward deals for all grades of lint at around Rs 6,975 per maund to Rs 7,575 per maund. More than 1,800 bales changed hands with more than 60 percent of Punjab’s share in trading. New York May Futures 2018 contract remained firm at 84.75 cents per pound, July Futures 2018 contract at 84.63 cents per pound and Cotlook A Index was intact at 92 cents per pound. Published in Daily Times, April 20th 2018.