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Better volumes of second grade of lint kept trading firm

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Better volumes of second grade of lint kept the trading firm, traders at the Karachi Cotton Association (KCA) said on Tuesday. Buyer remained cautious in making any big deal as they only made deals according to their immediate need of lint on back of grade issue and in anticipation of decline in spot rate.

KCA kept the spot rate intact at Rs 5,500 per maund in order to provide support to weak stakeholders of raw grade to ward off minimal price level, said floor brokers.

Price remain under stress condition due to selective buying in lint market

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During the trading session in lint market, prices remained under stress condition due to selective buying. However, buyers in Sindh and Punjab stations bought all grades on cautious note as grade issue was continued. Traders offered all grades of lint on bargaining rates at around Rs 4,975 per maund to Rs 5,375 per maund in order to capitalize maximum returns on their proceeds, floor brokers said.

While, traders at the Karachi Cotton Association (KCA) said that grade-conscious buyers made deals on slightly higher price on Thursday.

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