KARACHI: The cotton spot rate remained Rs 5,550 per maund as market stood positive during trading session and majority of the ginning units produced second grade lint to around 600 bales out of total output of around 960 bales.
The spinners of Punjab purchased fine lots around Rs 5,650 per maund and Rs 5,675 per maund, while Sindh ginners offered their raw produce on competitive prices at around Rs 4,975 per maund depending on trash level.
The quality lint would likely to fetch above Rs 5,700 per maund while the poor cotton would be traded around Rs 4,975 per maund during coming trading sessions.
In the domestic market, around 100 bales each of southern Punjab and 100 bales of upper Sindh stations changed hands at Rs 5,150 per maund and Rs 5,300 per maund respectively besides some contracts concluded in the range of Rs 5,025 per maund to Rs 5,150 per maund.
