Lint trading remains firm
KARACHI : Buyers bought all grades of lint at the cotton market on Friday and around 690 bales changed hands.
The Karachi Cotton Association (KCA) spot rate after getting strength stood at Rs 5,450 per maund. Floor brokers said buyers made forward deals in quality lint for a month period on slightly higher prices at around Rs 5,675 per maund during the trading session. A senior trader, Ghulam Rabbani said sellers remained in driving seat as the volumes of quality lint were shrinking and price war on second grade stuff was continue. Buyers bought all the grades at around Rs 5,025 per maund to Rs 5,475 per maund to cater their immediate blending need. The ginning units kept maintaining quality, as textile sector was in need of better grades of lint for end-product export orders.