KARACHI: The Karachi Cotton Association (KCA) kept the spot rate intact at Rs 5,900 per maund in order to provide support to weak stakeholders of raw grade to ward off minimal price level.
During the trading session, mills in Sindh and Punjab stations purchased lint on cautious note on grade issue, while sellers offered all grades of lint at around Rs 5,975 per maund to Rs 6,300 per maund in order to capitalise maximum returns on their proceeds, floor brokers said. The buyers remained selective in making any big deal as they only made deals according to their immediate need of lint on back of grade issue and in anticipation of decline in spot rate, they added. Spinners in Sindh and Punjab stations bought all grades on competitive price at around Rs 6,075 per maund to Rs 6,075 per maund while general buyers made deals for all grades in Punjab and Sindh stations at around Rs 5,975 per maund to Rs 6,075 per maund.
