KARACHI: The cotton price remained unchanged at Rs 5,600 per maund in order to support sellers.
The buyers and sellers were entangled in price war while deals for all grades changed hands on competitive prices in Sindh and Punjab stations at around Rs 5,025 per maund to Rs 5,450 per maund while production of the lint in the ginneries of Sindh and Punjab remained around 3,600 bales, floor brokers said.
Growing demand for all grades in Punjab and Sindh stations remained a basic point and providing strength to the overall prices of lint. The sellers withholding raw grades during trading stations asked slightly lower rates at around Rs 4,975 per maund in order to fetch maximum price.
In Punjab and Sindh stations mills bought all grades of lint at around Rs 5,000 per maund to Rs 5,150 per maund on back of growing demand of yarn.
The secondary buyers made deals for all grades of lint including second grades for blending purposes at around Rs 5,000 per maund to Rs 5,050 per maund while the raw grade stuff was available at around Rs 4,975 per maund depending on trash level.
