The cotton price stayed firm during the trading session at cotton market. Around 3,600 bales changed hands. The Karachi Cotton Association (KCA) spot rate remained unchanged at Rs 8,000 per maund.
Buyers made deals for all qualities offered by the ginners during trading session. Deals changed hands at around Rs 7,975 per maund to Rs 8,150 per maund.
Spinners remained quality conscious and made selective deals on slightly higher prices during the session while ginners sensing future demand of quality lint offered thin volumes of better stocks on higher prices to the buyers.
The overall trading activity at cotton market remained moderate in term of volumes as better grades are depleting. The domestic buyers remained eyeing on better grades even on a bit higher price. They bought around 500 bales at Rs 8,200 per maund during the session.
Buyers would remain eager for quality lint on slightly higher price on the back of growing demand of cloth and yarn. Conditions on parts of cottonseed growing areas remained normal for next month sowing.
New York Cotton market remained in moderate tone and traders were looking for any good news from Chinese corridors, when they would come and purchase lint to meet their requirements.
Ginners of Punjab offered quality cotton to buyers around Rs 8,150 per maund while ginners of Sindh offered raw grade of lint to the buyers around Rs 6,000 per maund, depending on thrash level.