Customers stay willing for fine lint amongst range-bound trading

KARACHI: Dealing in pure cotton market stayed range-bound with growing requirement for excellent qualities while costs of all qualities stayed cost-effective to end users of the product, investors said on Thursday. Dealing stayed boring at major centers due to governmental problems, power problems at fabric models and ginneries, quality problem and assets problems to customers, ground agents said.
However in some channels in Sindh and Punjab customers purchased all qualities at around Rs 6,050 per maund to Rs 6,075 per maund besides customers created ahead offers for a month period, investors said. However requirement for excellent quality kept the physical costs in comfortable area, ground agents said.
Trading in major channels of Punjab and Sindh stayed range-bound while rewriters purchased all qualities on careful note besides offers for particular lots to be able to enhance shares also altered by the audience, investors at Karachi Cotton Organization (KCA) said.
KCA kept the spot rate the same after over night modification at Rs 5,700 per maund to be able to provide support to poor ginners and investors retaining raw qualities for getting better costs, ground agents said. The customers and suppliers stayed caught in cost war and customers created offers for all qualities on competitive cost at around Rs 6,075 per maund to Rs 6,275 per maund, ground agents said. The requirement by major customers for all qualities is increasing, but quality problem bogged down down purchase in expecting better increase of cottonseed in near future, said Shakeel Ahmad a fiber specialist.
Spinners purchased all qualities besides second stage qualities at around Rs 6,250 per maund and Rs 6,275 per maund respectively while private industry commercial exporters created offers for second quality stuff at around Rs 6,000 per maund. Better qualities altered at around Rs 6,425 per maund on back of reducing shares and lower than expected increase of cottonseed in the ginneries in Punjab channels.
The more slowly cottonseed increase to the ginneries and slow supply of excellent and second quality lint in Punjab channels reinforced the suppliers to requirement better costs while some ahead offers were created by customers to be able to enhance their shares, ground agents said.
Around 600 bales altered with 60 percent share of Punjab investors while investors in Sindh channels created less offers for raw qualities at around Rs 5,975 per maund based on junk stage. New You are able to Oct 2014 Futures trading was standing at around 76 pennies per lb and Cotlook A catalog was hanging around 79 pennies per lb.