By admin       2017-12-27

Cotton trading remained fine grades focused with sizeable deals matured during trading session amid firm physical prices. Better grades of cotton fetched above Rs 7,050 per maund during trading session at leading stations of Punjab and Sindh. Leading buyers made deals second grade of cotton at around Rs 7,000 per maund while spinners bought better stocks at around Rs 7,025 per maund. The ginning units brought better grades on their asking prices to around Rs 7,000 per maund while produced 3000 bales on demand while arrival of cottonseed remained normal. Majority of secondary buyers purchased all grades of cotton at around Rs 6,475 per maund and Rs 6,600 per maund. Demand for better grades of lint would keep sellers in driving seats as textile sector have been facing dearth of better grades. Punjab buyers made deals for all grades of cotton at around Rs 6,575 per maund to Rs 6,700 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 6,475 per maund to Rs 6,525 per maund. Raw grades of lint changed hands at Rs 5,975 per maund depending on trash level during trading session. More than 1,800 cotton bales changed hands while ex-gin price per maund remained firm at Rs 7,000 per maund. In Kerb market trading took place in a range of Rs 6,625 per maund to Rs 6,675 per maund. New York Cotton March Futures 2018 contract closed at around 76.15 cents per pound, May Future 2018 contract at 76.39 cents per pound and Cotlook A Index was hovering at 85 cents per pound.

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