According to market sources, spinning mills raised PC yarn prices by ₹10 per kg due to higher cost of production. PC yarn of combed and carded varieties was quoted higher by the mills. Traders said that optimism for better demand supported mills to raise yarn prices. Earlier, they could not raise because demand from downstream industries like fabric and garment manufacturers was very weak.
On the other hand, cheaper crude oil is providing respite to the industry. Prices of polyester spun fibre (PSF) remained stable. Reliance Industries Limited (RIL) has decreased prices of PSF’s raw material like PTA, MEG and MELT. On Saturday, crude oil prices were steady. The benchmark US crude oil for April delivery rose by $1.72 to $104.70 a barrel Friday. Brent crude for May delivery rose $1.29 to $107.93 a barrel.
Ludhiana, India’s most prominent man-made yarn market, noted spike in prices by ₹10 per kg on Saturday. However, prices of recycled PC and acrylic yarn remained steady. 30 count PC combed yarn (48/52) was sold higher by ₹10 at ₹280-290 per kg (GST extra). 30 count PC carded yarn (65/35) was priced up by ₹10 at ₹245-250 per kg, according to Fibre2Fashion’s market insight tool TexPro. But 20 count PC (recycled-O/E) PSF yarn (40/60) was traded stable at ₹170-180 per kg. Acrylic NM (2/48) was priced at ₹315-320 per kg, while acrylic NM (2/32) at ₹265-270 per kg. PSF was noted stable at ₹123 per kg. But prices of PSF’s raw materials were lower due to cheaper crude oil. Reliance industry fixed prices as: PTA ₹88.90 (-4.90), MEG ₹62.30 (-3.40) and MELT ₹97.64 (-5.37) per kg.
ALCHEMPro News Desk (KUL)
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