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Related Keywords: 000 per maund, build up inventories, buyers seen chasing quality cotton, cotton bales, cotton market on Thursday, intense demand, official spot rates increased, prices on ready counter, pushed cotton prices u, Renewed buying interest, seasonal peak level, Spinners, Textile Industry, touched Rs7

At cotton market on Thursday buyers seen chasing quality cotton in order to build up their inventories. This renewed buying interest pushed the cotton prices up to the seasonal peak level of Rs.7,000 per maund. Due to intense demand, prices on ready counter touched Rs7,000 per maund while official spot rates were increased by Rs100 to Rs6,600 per maund.

Short supply and fears of crop failure kept buyers panicky. There was strong demand but most deals could not be finalised owing to quality constraints.

Related Keywords: build up inventories, cotton bales, Cotton prices remain stable, Forward deals for better, give price benefit to sellers, improved supplies of all grades, kept trading moderate, Lint market, mills and spinners, physical prices within reach of buyers, reports of paucity of better grades of lint this season, second grade of lint, selective buying

Cotton prices remain stable with selective buying and improved supplies of all grades at lint market. Physical prices were within the reach of buyers, whereas, reports of paucity of better grades of lint this season could give price benefit to sellers. Forward deals for better and second grade of lint kept trading moderate at lint market.

Despite the fact that more cotton had been produced by the country up to Oct 1, 2017 over the corresponding period last year, however the glut did not dent prices due to oversold position of ginners.

Related Keywords: before shrinking fine grade lint, build up inventories, Cotton market, fine grade lint demand, Karachi Cotton Association, physical prices firm, potential buyers made deals, producing better textile products, second grade cotton, spot rate stayed steady, Trading week

During trading week at cotton market, fine grade lint demand combined with buyers’ eagerness for fine and second grade cotton for blending purposes kept physical prices firm while spot rate stayed in steady zone. Buyers at major stations of Punjab and Sindh remained busy buying fine grades as demand of better grades was growing on back of producing better textile products while potential buyers made deals for all grades in order to build up their inventories before shrinking fine grade lint, dealers said.