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Related Keywords: buyers made selective deals, eyeing domestic better grades, Karachi Cotton Association, leading buyers, making forward deals at premium prices, on grade issue, raw grade stuff, Second grade of lint for blending purposes, spot rate unchanged, strengthened long positions

The buyers made selective deals on grade issue and also strengthened their long positions by making forward deals at premium prices, traders at Karachi Cotton Association (KCA) said. KCA kept spot rate unchanged at Rs 6,750 per maund.

Sellers withholding better grades remained in the driving seat due to paucity of premium stuff while KCA remained busy taking steps to provide maximum benefit to the weak stakeholders to capitalise maximum on their raw stuff, floor brokers said.

Related Keywords: better grades, bought all grades on competitive prices, buyers are beginning to eye imports, buyers made selective deals, decline in cotton output, forward deals made, KCA, Lint market, second grade of lint, Slow pace of trading, Spinners in Sindh and Punjab stations, spot rate, this end crop season

A slow pace of trading in the lint market witnessed as buyers made selective deals for second grade of lint, while forward deals were also made for better grades, traders said.

During the trading session, spinners and mills in Sindh and Punjab stations made deals for second grade lint, while sellers offered all grades of lint at around Rs 5,975 per maund to Rs 6,775 per maund in order to capitalise maximum returns on their proceeds.

Related Keywords: anticipation of further decline in spot rate, back of grade issue, buyers made selective deals, Cotton market, export orders needs fine end-products, forward deals changed hands for second grade lint, immediate need, local output short, physical price remained under downward adjustment, textile sector to import more fine grades, trading session

During the trading session at cotton market, buyers were seen making selective deals according to their immediate need on back of grade issue and in anticipation of further decline in spot rate while physical price remained under downward adjustment besides forward deals changed hands for second grade lint, floor brokers said.