Trading activity remained firm at cotton market as buyers bought better grades of lint on higher than market physical prices during trading session in Punjab and Sindh stations, keeping sellers in the driving seat.
Buyers made deals in better and second grade of cotton on shrinking stocks. Spinners bought second grade of lint at around Rs 6,500-Rs 6,525 per maund, in parts of Sindh and Punjab stations.
Mills purchased better grades of lint on the back of improved demand from garments and t
Strong demand for quality cotton kept prices firm on Saturday.
Interestingly, higher arrival of phutti (seed cotton) did not dent cotton prices.
Due to peak season for the textile industry, there was rush of buyers who were keen to replenish their cotton inventories. It was encouraging that the flow of quality cotton also remained high. Phutti arrival is at its peak since picking in almost all cotton growing districts of Punjab is in full swing.
However, phutti arrival