Cotton yarn prices see mixed trend in south India

Tiruppur market may see standstill on January 17 and 18, due to a strike called in protest of steep hike in cotton and yarn prices. However, traders expect trading and manufacturing activities to pick up after one week for the next summer season clothing.

In Mumbai market, cotton yarn prices remained almost steady on Saturday as demand was very weak. After festival holiday, many factories were facing labour shortage as they did not come back to work on the very next day of holiday. It is expected that market scenario will change at the end of this month when fabric manufacturers will start fresh buying.

In Mumbai market, 60 count carded cotton yarn of warp and weft varieties were traded steady at ₹1,910-1,990 per 5 kg and ₹1,690-1,740 per 5 kg respectively. 80 count carded cotton yarn of weft variety was sold at ₹1,825-1,850 per 5 kg. It had seen slight decline trend in last few days due to sluggish manufacturing activities. Carded cotton yarn (46 count) of weft variety was sold at ₹1,730-1,760 per 5 kg in the market.

In Tiruppur market, normal trading activities is expected to resume after January 20 as there will be strike in the textile city January 17 and 18. Though the market remained closed on Saturday, cotton yarn prices of 30 count combed were quoted at ₹ 355-360 per kg, 34 count combed at ₹360-366 per kg, and 40 count combed at ₹390-395 per kg. Cotton yarn of 30 count carded was quoted at ₹ 315-320 per kg, 34 count carded at ₹ 322-328 per kg, and 40 count carded at ₹345-350 per kg, according to Fibre2Fashion's market analysis tool TexPro. Last week, the price of cotton yarn of 30 count carded and 34 count carded had fell down between ₹1 to ₹3 per kg last week due to poor demand, but 34 count combed and 40 count combed yarn gained ₹3-5 per kg.

According to market sources, higher cotton prices are pushing up yarn prices in Tiruppur, but slower demand is not supporting in the current scenario. The market had seen very thin trade before holiday.

Meanwhile, domestic markets witnessed upward trend in cotton trade due to better demand from spinners and stable arrivals in mandis. In Maharashtra’s Nagpur line, 30 mm variety cotton was priced at ₹ 77,000-77,500 per candy of 356 kg on Saturday, 29.5 mm at ₹ 76,000-76,500 per candy and 29 mm variety cotton at ₹75,000-75,500 per candy. In Akola line, the price of 29 mm variety of cotton was ₹74,000-74,500 per candy, and 28.5+ mm cotton was priced at ₹72,500-73,000 per candy.

ALCHEMPro News Desk (KUL)