Demand for PC yarn likely to pick up this week in north India

It is to be noted here that the entire man-made yarn and PC yarn market is sandwiched between costlier crude based raw material and sluggish demand from downstream industry. Though the price of crude oil has declined from its recent highs, it is still hovering at very high level. On Friday, Brent crude futures, the global oil benchmark, rose 1.94 per cent to $111.45 per barrel. Skyrocketed crude oil was disrupting pricing structure of PSF value chain because of costlier intermediatory products like PTA, MEG and MELT.

Ashok Singhal, a broker from Ludhiana, told Fibre2Fashion that the prices of PC yarn and acrylic yarn were hovering at previous levels, but trading activities are improving.

Ludhiana, India’s most prominent man-made yarn market, recorded stable man-made yarn prices on Saturday. 30 count PC combed yarn (48/52) was sold at ₹270-280 per kg (GST extra). 30 count PC carded yarn (65/35) was priced at ₹235-240 per kg and 20 count PC (recycled-O/E) PSF yarn (40/60) was traded at ₹170-180 per kg, according to Fibre2Fashion's market insight tool TexPro. Acrylic NM (2/48) was priced at ₹315-320 per kg and acrylic NM (2/32) at ₹265-270 per kg. PSF was priced at ₹123 per kg. PSF’s raw materials were sold as PTA ₹93 per kg, MEG ₹65 per kg, and MELT ₹103 per kg.

ALCHEMPro News Desk (KUL)