By admin       2018-02-23

KARACHI: The cotton price stayed firm during the trading session on Thursday. Around 960 bales changed hands. The Karachi Cotton Association (KCA) spot rate remained unchanged at Rs 6,900 per maund. Buyers made deals for all qualities offered by the ginners during the trading session. Deals changed hands at around Rs 6,600 per maund to Rs 7,325 per maund. Spinners and mills remained quality conscious and made selective deals on slightly higher prices during the session, while leading ginners sensing future demand of quality lint offered thin volumes of better stocks on higher prices to the buyers. The domestic buyers remained eyeing on better grades even on a bit higher price. They bought around 300 bales at Rs 7,375 per maund during the session. Buyers would remain eager for quality lint on slightly higher price on the back of growing demand of cloth and yarn. Conditions on parts of cottonseed growing areas remained normal for picking cotton seed. There was possibility that leading buyers likely to import 50,000 bales of quality cotton in near future for meeting domestic and export demands of end products. New York Cotton market remained in firm trend and the traders were looking for any good news from Chinese corridors, when they would come and purchase lint to meet their requirements. Ginners of Punjab offered quality cotton to buyers at around Rs 6,950 per maund, while ginners of Sindh offered raw grade of lint to buyers around Rs 5,975 per maund, depending on thrash level. Private sector commercial exporters were looking for better lots for Rs 6,600 to 6,650 per maund.

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