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Related Keywords: anticipation decline in spot rate, depending on grade issue, fibre traders, firm physical prices at lint market, immediate need of lint, KCE, leading buyer, making any big deal, Normal trading, only made deals on selective note, remained cautious, trading session

Leading buyer remained cautious in making any big deal as they only made deals on selective note depending on grade issue and their immediate need of lint in anticipation of decline in spot rate during trading session and with firm physical prices at lint market, fibre traders said.

Forward trading for a month period also took place, traders at the Karachi Cotton Association (KCA) said. KCA kept the spot rate intact at Rs 6,800 per maund in order to provide support to weak stakeholders of raw grade to ward off minimal price level.

Related Keywords: ahead of PCGA fortnightly report, China plans to cut production, cotton bales, indulged in fresh buying, leading buyer, market sources, Pakistan cotton market, seed cotton, Spinners, spot rates remained unchanged, trading activity improved

With some leading buyers indulged in fresh buying ahead of the Pakistan Cotton Ginners Association (PCGA) fortnightly report due shortly, trading activity on the cotton market witnessed improved on Wednesday, according to market sources.

In the ready business, about 4000 bales of cotton changed hands between Rs 4700 to Rs 5600, dealers said.

However, the official spot rate remained unchanged at Rs 5,350. While, in Sindh, prices of seed cotton remained between Rs 1600 and Rs 2800, in the Punjab, rates were at Rs 2000 and Rs 3000.