Lint trading remains firm

KARACHI: Buyers made deals for all grades of lint while forward deals for a month period also changed hands for all qualities amid strong physical price and firm spot rate during the trading session, dealers said.

The Karachi Cotton Association (KCA) kept spot rate at Rs 5,350 per maund while market stood positive during trading session and majority of the ginning units produced second grade lint to around 9,900 bales out of total output of around 12,900 bales on higher demand.

The sellers dominated the market by asking price on their terms on growing demand that also kept market sentiments on higher side despite shrinking domestic fine stocks, floor brokers said. The spinners of Punjab purchased fine lots around Rs 5,675 per maund and Rs 5,700 per maund, while Sindh ginners offered their raw produce on competitive prices at around Rs 4,550 per maund depending on trash level.

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