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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.

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Aggressive buying of quality lint by spinners was witnessed at cotton market on Friday keeping trading activity brisk. A broker said that the rush could be due to the latest cotton production figures which have shown a sudden dip in phutti arrival of phutti (seed cotton).

Apparently, spinners are not willing to take any risks and readily entered into deals even at higher rates. A salient feature of cotton trading was that most deals were of good quality, big lots.

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Rising trend seen in cotton prices on Tuesday with panic buying for quality lint from buyers. With Phutti (seed-cotton) arrivals remaining high, quality issues continue to haunt the textile industry.

Growers have been raising phutti prices against which ginners were forced to increase cotton prices. On ready deals, prices moved higher to Rs6,500 per maund. Resultantly, official rates were also adjusted upward.

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The cotton market on Monday began monotonous as buyers and sellers stayed away. Due to slackness in cotton demand, phutti (seed cotton) prices also remained under pressure and were quoted between Rs2,800-3,000 per 40kg for Sindh quality and Rs2,800-3,050 per 40kg for Punjab variety.

Ginner were holding onto stocks from earlier on since cotton picking activity came to a complete halt over the weekend to mark Ashura. According to a leading cotton broker, it will be a couple of days before trading normalises.

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As spinners at cotton market kept themselves from away, dull trading activity was witness on Thursday. Deals of as many as 2,700 maunds of phutti (seed cotton) took place in Umer Kot at Rs3,625, Kunri at Rs3,575, Degree at Rs3,550, Mirpur Khas at Rs3,525 and Badin at Rs3,600.

Major deals that changed hands on the ready counter were: 400 bales from Rahim Yar Khan at Rs7,000, 200 bales from Vehari at Rs6,875 and 200 bales from Mirpur Khas at Rs7,000 (new crop).

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During the trading session at cotton market, cotton price remained stable. Leading buyers made deals for all qualities of lint offered by the ginners during the trading session, traders said.

While, spinners remained eager for quality cotton on slightly higher prices during the session while the leading ginners sensing future demand of quality lint offered few stocks on higher prices to the buyers

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Moderate trading activity witnessed at the cotton market, as more than 9,000 bales changed hands. Dealers said that the leading mills and spinners purchased cotton of all qualities during the trading session.

The Karachi Cotton Association (KCA) spot rate remained intact at Rs 6,700 per maund. While, the physical market prices remained between Rs 6,350 per maund and Rs 6,600 per maund.

The mills bought quality cotton on slightly higher rates while spinners of Sindh strengthened their long positions.

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Trading activity at cotton market on Monday remained slow as buyers and sellers remained to the sidelines owing to short supply of quality lint and rise in cotton prices. The Karachi Cotton Association also raised its spot rates by Rs50, to Rs6,800 per maund (around 37kg).

According to market estimates, ginners currently hold 500,000 bales of cotton in order to get best prices are careful in disposing of these stocks.

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Cotton prices remained steady at cotton market on Tuesday leaving the market largely devoid of activity as leading buyers remained on the sidelines. The Karachi Cotton Association also kept its spot rates unchanged.

However, KCA fixed the official spot rate, or base price, for Grade 3 cotton at 7,127 rupees per maund (40 kg). Grade 3 cotton has a staple length of 1-1/16" and micronaire value between 3.8 and 4.9 NCL (no control limits), which represents fine to coarse classes of cotton varieties.

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Cotton prices pushed higher on Friday with steady flow of buying orders. But no pick up seen in the trading activity as ginners held stocks anticipating higher prices in the coming days. Deal was reported to be conditional.

The Karachi cotton Association raised its spot rates by Rs50, to Rs6,700 per maund on Fri¬day.

Nevertheless, trading was marked by a single big deal of 5,801 bales which was quo¬ted at a high price of Rs7,200 per maund (around 37 kilograms).