KARACHI: Karachi Cotton Market witnessed a fine trading session Monday, as more than 11,000 bales changed hands. The Karachi Cotton Association (KCA) spot rate remained at Rs 2,725 per maund.
Dealers said the leading buyers bought quality lint on slightly higher price during the trading session. Most of the ginners who held on to their positions were of the view that the prices might increase in the coming days.
A senior trader, Ghulam Rabbani said the spinners remained eager for quality cotton and purchased lint around Rs 2,800 per maund. The quality stocks of Punjab remained in focus during the trading session.
He said the spinners also waiting the arrival of the imported cotton stocks in order to strengthen their long positions.
He said quality lint of Punjab changed hands around Rs 2,815 per maund while ginners of Sindh offered quality lint around Rs 2,735 per maund during the trading session. He said the price of quality lint would remain on higher side till the arrival of new crop in July 07.
A senior broker said physical cotton prices remained at Rs 2,600 per maund and Rs 2660 per maund while poor stocks of Punjab changed hands around Rs 2,585 per maund during the trading session.
According to KCA, 200 bales of Yazman changed hands at Rs 2,700 per maund, 200 bales of southern Punjab at Rs 2,710 per maund, 200 bales of Mirpurkhas at Rs 2,635 per maund, 200 bales of Rahimyar Khan at Rs 2765 per maund, 200 bales of Dadu at Rs 2,675 per maund, 200 bales of Sadiqabad at Rs 2,740 per maund and 200 bales of upper Sindh at Rs 2,675 per maund.
Dealers said the leading buyers bought quality lint on slightly higher price during the trading session. Most of the ginners who held on to their positions were of the view that the prices might increase in the coming days.
A senior trader, Ghulam Rabbani said the spinners remained eager for quality cotton and purchased lint around Rs 2,800 per maund. The quality stocks of Punjab remained in focus during the trading session.
He said the spinners also waiting the arrival of the imported cotton stocks in order to strengthen their long positions.
He said quality lint of Punjab changed hands around Rs 2,815 per maund while ginners of Sindh offered quality lint around Rs 2,735 per maund during the trading session. He said the price of quality lint would remain on higher side till the arrival of new crop in July 07.
A senior broker said physical cotton prices remained at Rs 2,600 per maund and Rs 2660 per maund while poor stocks of Punjab changed hands around Rs 2,585 per maund during the trading session.
According to KCA, 200 bales of Yazman changed hands at Rs 2,700 per maund, 200 bales of southern Punjab at Rs 2,710 per maund, 200 bales of Mirpurkhas at Rs 2,635 per maund, 200 bales of Rahimyar Khan at Rs 2765 per maund, 200 bales of Dadu at Rs 2,675 per maund, 200 bales of Sadiqabad at Rs 2,740 per maund and 200 bales of upper Sindh at Rs 2,675 per maund.
