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Cotton yarn prices surge in north India as ICE cotton spikes

Trade experts said that spinners are holding onto their cotton yarn reserves, having already secured substantial deals at favourable prices in the export market. Despite a stabilisation of cotton prices today following a positive uptick last week, the Panipat market has observed a downtrend in recycled polyester fibre demand, attributed to sluggish market conditions exacerbated by concerns over the new SME payment rule.

A trader from the Ludhiana market told Fibre2Fashion, "Mills have already sold a large quantity of cotton yarn, providing them with enough business comfort. They were not keen to sell their production in the domestic market. Cotton yarn market prices increased by &#****;*-* per kg in the last couple of days. Indian yarn did not see a similar rise as ICE cotton in the recent past. Domestic prices are still attractive for the export market."