Trade sources attribute the tight payment flow to lacklustre sales at the retail level. Yarn and fabric traders anticipate subdued trading activity until Diwali, as there is a greater emphasis on retail sales and dispatches.
The Ludhiana market witnessed a downward trend in the prices of PC yarn, while poly spun remained stable amid poor demand. PC yarn prices eased by ₹2 per kg in the market due to very poor demand. A trader from the Ludhiana market told Fibre2Fashion, "There were no indications of better lifting from the weaving industry. Weak sentiments in the yarn market were likely to continue, and the Diwali festival failed to lift market sentiments."
In the Ludhiana market, PC yarn experienced a price decrease of ₹2 per kg. As per Fibre2Fashion’s market insight tool TexPro, 30 count PC combed yarn (48/52) was traded at ₹190-200 per kg (inclusive of GST). Additionally, 30 count PC carded yarn (65/35) was sold at ₹176-186 per kg, while 30 count poly spun yarn was priced at ₹153-163 per kg (inclusive of GST) in the north Indian market. Recycled polyester fibre (PET bottle fibre) was quoted at ₹70-72 per kg.
The Surat market also witnessed a drop of ₹2-4 per kg in polyester spun and viscose yarn prices. Traders said that the market experienced weaker demand for various varieties of man-made yarn. The domestic industry is being negatively impacted by significant imports of fabric and garments, especially due to the substantial increase in yarn imports from China at lower prices.
In Surat, 30 count poly spun yarn was traded at ₹135-137 per kg (excluding GST), 40 count poly spun yarn was priced at ₹150-152 per kg, 30 count viscose compact yarn (local) was traded at ₹200-202 per kg (excluding GST), and viscose yarn also saw a decrease of ₹2-3 per kg in the last week.
In the Mumbai market, there was also a weakness observed in viscose yarn prices due to poor demand. According to trade sources, the decline in viscose yarn prices occurred because the festival demand did not improve as expected. Imported viscose vertex yarn was priced at ₹187-192 per kg, while local ring-spun viscose yarn was quoted at ₹195-201 per kg, as reported by TexPro.
Cotton prices in north India have taken on a bearish tone due to poor demand, even as cotton arrivals remained steady in the region. Over the past few days, prices have seen a decline of ₹20-30 per maund of 37.2 kg. Traders have reported that mills have been purchasing cotton regularly, but their demand has not been sufficient to support prices.
The estimated cotton arrival in the region stands at 27,000 bales of 170 kg each. The breakdown by state is as follows: Punjab with 3,000 bales, Haryana with 8,000 bales, upper Rajasthan with 8,000 bales, and lower Rajasthan with 8,000 bales. In Punjab, prices were ranging from ₹5,640 to ₹5,750 per maund, in Haryana from ₹5,630 to ₹5,735 per maund, and in upper Rajasthan from ₹5,475 to ₹5,625 per maund. Additionally, prices were noted at ₹55,000 to ₹56,300 per candy of 356 kg in lower Rajasthan.
ALCHEMPro News Desk (KUL)
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