KARACHI: Higher demand for better grades of cotton kept market
sentiments firm while better grades of cotton fetched a premium price during
trading session at leading stations of lint market in Punjab and Sindh.Buyers
purchased better grades of cotton at above Rs 7,625 per maund and deals for
second grade of lint changed hands at above Rs 7,425 per maund during the
trading session.
Mills bought better grades of
cotton at around Rs 7,325 per maund while spinners purchased better stocks at
around Rs 7,400 per maund.The ginning units produced better grades of lint on
demand while 3,900 bales changed hands during trading. Arrival of cottonseed
would remain normal during next coming session.The secondary buyers made deals
for all grades of cotton at around Rs 6,625 per maund and Rs 6,650 per maund.
Demand for better grades of lint
would keep market sentiments steady as import cost remained higher comparing to
local prices of produce.Sindh and Punjab buyers made month-delivery forward
deals for all grades of cotton at around Rs 6,600 per maund to Rs 6,675 per
maund in anticipation of further increase in prices during next trading
sessions.Physical prices would remain firm on demand for all grades of cotton
that would keep sellers in driving seat while bottom line prices likely to
stand firm.
Source: Pakistan Tribune, Pakistan Thursday, 18 January 2018