KARACHI: Trading remained grade selective while buyers made deals for better grades of lint on sellers’ asking price amid firm spot rate. Volumes remained thin, traders said. Forward deals also changed hands that kept physical prices in green zone. The Karachi Cotton Association (KCA) kept spot rate at Rs 7,500 per maund. Buyers purchased all grades at around Rs 6,975 per maund to Rs 7,475 per maund and deals for fine and second grade lint for blending purpose remained sound that changed hands at around Rs 7,500 per maund and Rs 7,400 per maund respectively on average during trading session. Spinners consolidated their long positions and made deals for second grade on paying premium price. Prices of all grades of cotton remained under deals-related adjustments. The shrinking fine lint stocks put general price in firm zone and buyers also made a month period forward deals on slightly higher price at around Rs 6,975 per maund in Sindh and Punjab stations. The private sector commercial exporters consolidated their long positions and bought stuff from old stocks. The buyers remained selective on grade and consolidated their future positions with old fine lots. According to KCA, 100 bales of Nawabshah changed hands at Rs 6,975 per maund, 100 bales of Dadu at Rs 7,000 per maund, 100 bales of upper Sindh at Rs 71975 per maund and 100 bales of southern Punjab at Rs 7,425 per maund. In domestic market buyers remained eager for quality lint on the back of growing demand of end products. The ginners of Punjab offered cotton of all grades to the buyers around Rs 5,975 per maund to Rs 7,625 per maund while ginners of Sindh offered raw grade of lint to the buyers around Rs 5,975 per maund, depending on trash level. New York Cotton July Futures 2018 contract closed slightly down at 86 cents per pound, October Futures 2018 contract at 86.08 cents per pound and Cotlook A Index was hovering at 92 cents per pound. Published in Daily Times, May 30th 2018.