KARACHI, Nov 6: The cotton prices maintained upward drive on Thursday as some of the fine lots were traded as higher at Rs3,300 per maund amid brisk mill buying.

Lint prices appear to be steadily heading towards their pre-reaction average level of Rs3,800 per maund as spinners and mills are not inclined to take even technical breather, analysts said.

Well over 50,000 bales including mostly big lots of 2,000 to 4,000 bales changed hands at the rising prices on Thursday, reflecting supply scare among the spinners and mills, they added.

The interesting feature was that no one among the spinners and the mills was inclined to take an overview of the prevailing world cotton scenario and were out to cover their forward supplies.

Floor brokers said the prevailing volatility on the New York Cotton Exchange could have given the needed push to the textile sector, but they owing to foreign exchange problems they could not go for cheaper imports.

The New York cotton futures were quoted lower by limit-fall of 2.01 and 2.24 cents at 44.21 and 48.63 cents per lb for both the ruling December and the distant March contracts respectively.

“The other major worry of the textile sector is conflicting reports about the size of the crop as is reflected by the mad race to grab the floating stock irrespective of the price tag,” they said.

That was perhaps why despite higher phutti arrivals, the lint prices were rising owing to panic mill buying, they added.

Official spot rates were, however, held unchanged at Rs3,200 per maund, but in physical trading bulk of the business was done well above this rate.

The following are some of the notable deals, which gone in the ready section late in Thursday evening:

SINDH VARIETY: 1,400 bales, Dadu at Rs3,140, 1,000 bales, each Sanghar, Shahdadpur and 1,800 bales, Tando Adam at Rs3,150, 1,000 bales, Khairpur at Rs3,100 to Rs3,150 and 2,000 bales, upper Sindh at Rs3,200 to Rs3,250.

PUNJAB TYPE: 5,000 bales, Sadiqabad at Rs3,225 to Rs3,300, 2,000 bales, Nurpur at Rs3,250, 2,000 bales, Bahawalnagar at Rs3,275, 4,000 bales, Alipur at Rs3,225 to Rs3,250, 1,00 bales, Gojra at Rs3,200, 2,000 bales, each Rajanpur and Ahmedpur East and 1,000 bales, Liaquatpur at Rs3,250, 2,000 bales, 1,200 bales, Kabirwala also at Rs3,250, Khanewal at Rs3,225 to Rs3,250, 1,000 bales, Muhammadpur Dewan at Rs3,200 to Rs3,250, 1,000 bales, Burewala at Rs3,200, 2,000 bales, Shadan Lund and 2,500 bales, Bahawalpur at Rs3,250, 2,000 bales, D.G.Khan at Rs3,225 to Rs3,275, 1,200 and 1,000 bales, Khanpur and Rahimyar Khan at Rs3,300.