Waning stock of quality lint, propelled mills and spinners to make cautious buying on the cotton market on Monday, dealers said. The official spot rate was unchanged at Rs 4,950, dealers said. In the ready session, around 9,000 bales of cotton changed hands between Rs 4475 and Rs 5100, they said. Prices of seed cotton in Sindh were unchanged at Rs 1800 and 2300 while in the Punjab phutti rates showed slight rise at Rs 2000 and Rs 2600, dealers said.
Market sources said that falling stock with the ginners and shortage of quality lint helping prices to hold the present levels in the process of modest trading. Cotton analyst, Naseem Usman said that general trend in the market is firm as prices stabilised in the US, Chinese and Indian market. He also said that mills and spinners may try to purchase low variety at the lower rates to cover the needs amid short selling of quality lint.
The following deals reported: 200 bales of cotton from Shahdadpur at Rs 4475, same figure from Kandiyro at Rs 4500, 400 bales from Roohro at Rs 4925, same figure from Ghotki at Rs 5000, 200 bales from Kabbirwala at Rs 4800, same figure from Khanewal at the same rate, 1000 bales from Fort Abbas at Rs 4875-4900, 400 bales from Vehari at Rs 4900-4950, 600 bales from Multan at Rs 4900-4950, 400 bales from Faqirwali at the same rates, 800 bales from Chichawatni at Rs 4950, 1000 bales from Liauatpur at Rs 4950-5000, 600 bales from Sahiwal at Rs 5050, 1000 bales from Mianwali at the same rate and 2100 bales from Chani Goth at Rs 5100, they added.
===========================================================================
The KCA Official Spot Rate for Local Dealings in Pakistan Rupees
---------------------------------------------------------------------------
FOR BASE GRADE 3 STAPLE LENGTH 1-1/32"
---------------------------------------------------------------------------
MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL
===========================================================================
Rate Ex-Gin Upcountry Spot Rate Spot Rate Difference
For Price Ex-Karachi Ex. KHI. As Ex-Karachi
on 21.02.2015
===========================================================================
37.324 Kgs 4,950 150 5,100 5,100 NIL
---------------------------------------------------------------------------
Equivalent
---------------------------------------------------------------------------
40 Kgs 5,305 160 5,465 5,465 NIL
===========================================================================
Comments
Comments are closed.