By admin       2017-12-14

KARACHI: Buyers made deals for better grades of lint in anticipating depleting better grades and increase in general prices of the commodity during trading session at leading stations of Punjab and Sindh. Increasing trend in dollar cast positive impact on prices of cotton while grade related demand also put prices in green. Buyers made deals for better and second grade of cotton on premium price at around Rs 6,825 per maund and Rs 6,800 per maund respectively. The ginners remained unfaltering and sold stocks on their asking prices on back of quality and demand during trading session at major stations of Punjab and Sindh. Mills bought better cotton at around Rs 6,775 per maund while spinners made deals at around Rs 6,775 per maund in order to strengthen their long positions. Demand for better grades of lint would likely to keep sellers on driving seats until arrival of imported 150,000 cotton bales reaches. Buyers also made forward deals for a month delivery period in order to fortify their inventories during trading session at Punjab and Sindh stations. Secondary buyers made deals for normal quality of cotton at around Rs 6,300 per maund to Rs 6,325 per maund during trading session in Sindh and Punjab stations. Physical prices would remain firm on demand for all grades of cotton that would keep market’s sentiments in positive while bottom line prices likely to stand in firm frame. Private sector commercial exporters made deals at Rs 6,375 per maund to Rs 6,400 per maund. Raw grades of lint changed hands at Rs 5,975 per maund depending on trash level during trading session. Around 900 cotton bales changed hands while ex-gin price per maund remained firm at Rs 6,700 per maund. In Kerb market trading took place in a range of Rs 6,575 per maund to Rs 6,600 per maund. New York Cotton December Futures 2017 contract closed at around 74.12 cents per pound, March Future 2018 contract at 74.09 cents per pound and Cotlook A Index was hovering at 85 cents per pound.

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