Renewed buying by mills and spinners pushed the rates to hit season's high on the cotton market on Thursday in the process of trading, dealers said. The official spot rate was unchanged at Rs 6,600, they said. In ready session, over 20,000 bales of cotton changed hands between Rs 6000-7100, they said.
In Sindh, seed cotton prices were same at Rs 2700-3200, in the Punjab, rates also held the overnight levels at Rs 2700-3300, as per 40 kg, they said. According to market sources, some mills and spinners indulged in fresh buying to lay hands over the fine quality.
Cotton analyst, Naseem Usman said that prices may not fluctuate sharply in the coming days due to shortage of lint cotton. Balochi cotton rates firm due to strong demand from buyers, he added. Reports showing that country may be able to import cotton from India from 1st Jan-31st March.
Adds Reuters: ICE cotton futures edged up on Wednesday, hovering near more than two-month highs hit last week on concerns over crop damage in top producer India. Cotton contracts for March settled up 0.21 cent, or 0.29 percent, at 72.72 cents per lb., and traded in a range of 72.44 and 73.27 cents a lb.
Total futures market volume fell by 9,389 to 18,496 lots. Total open interest gained 473 to 249,201 contracts in the previous session, data showed. The following deals reported: 200 bales of cotton from Dherki at Rs 7050, 1000 bales from Saleh Pat at Rs 6600/6700, 200 bales from Panno Aqil at Rs 6900, 800 bales from Tando Adam at Rs 6300, 620 bales from Shehar Sultan at Rs 7100, 4000 bales from Kot Sabzal at Rs 6965, 103 bales from Khanewal at Rs 6850, 400 bales from Hasilpur at Rs 6750, 400 bales from Ahmedpur East at Rs 6700, 400 bales from Bahawalpur at Rs 6650, 200 bales from Shadan Lund at Rs 6550, 6000 bales from Fort Abbas at Rs 6500, 1200 bales from Haroonabad at Rs 6500, 1000 bales from Yazman Mandi at Rs 6500, 1000 bales from Karor Lal Esan at Rs 6400, 1000 bales from Mianwali at Rs 6400, 1000 bales from Bahawal Nagar at Rs 6350, 400 bales from Chistian at Rs 6300, 600 bales from Layyah at Rs 6125 and 200 bales from Bakhar at Rs 6000, they said.

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The KCA Official Spot Rate for Local Dealings in Pakistan Rupees
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FOR BASE GRADE 3 STAPLE LENGTH 1-1/16"
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                                    MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL
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Rate              Ex-Gin   Upcountry   Spot Rate    Spot Rate    Difference
                    For      Price     Ex-Karachi  Ex. KHI. As   Ex-Karachi
                                                  on 06.12.2017
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37.324 kg          6,600      145        6,745         6,745            NIL
Equivalent
40 kgs             7,073      155        7,228         7,228            NIL
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