Cotton yarn market bearish in north India; prices down in Ludhiana

Trade sources also said that the imports of cheaper fabric dented the demand for cotton yarn in the domestic market. Recycled yarn prices were also sluggish in Panipat’s market. Cotton comber and polyester staple fibre traded steadily. Traders said that the demand for bed sheets in north India also slowed down, though it picks up in the summer season.

The Delhi market witnessed average demand for cotton yarn from the downstream industry and exporters, while its prices remained steady. According to trade sources, buyers were not very keen on bulk purchases as they did not expect a price rise in the near future. The consumer industry was still in a hand-to-mouth mode.

In this market, 30 count combed knitting yarn was traded at ₹265-270 (approximately $3.18-3.24) per kg (GST extra), 40 count combed at ₹290-293 (approximately $3.47-3.51) per kg, 30 count carded at ₹240-245 (approximately $2.88-2.94) per kg, and 40 count carded at ₹270-273 (approximately $3.24-3.27) per kg today, as per market sources.

Cotton yarn traded bearishly in the Ludhiana market as demand was very slow. A trader from the Ludhiana market told Fibre2Fashion, "Cotton yarn prices eased by ₹1 per kg for various counts as stockists and traders were trying to clear their stocks. Higher imports of fabric were still a negative factor for the slow demand.”

In Ludhiana, 30 count cotton combed yarn was sold at ₹262-272 (approximately $3.18-3.30) per kg (inclusive of GST); 20 and 25 count combed yarn were traded at ₹252-262 (approximately $3.06-3.18) per kg and ₹257-267 (approximately $3.12-3.24) per kg, respectively; and carded yarn of 30 count was noted at ₹242-247 (approximately $2.94-3.00) per kg today, according to trade sources.

Panipat’s recycled yarn market also noted slow demand, but the prices did not see significant movement. According to trade sources, the present demand for recycled yarn was very slow. The consumer industry did not see retail buying of finished goods as very encouraging. The election process also slowed down trading in Panipat as police restrictions discouraged traders.

In Panipat, 10s recycled PC yarn (Grey) was traded at ₹78-82 (approximately $0.94-0.98) per kg (GST paid). Other varieties and counts were noted at 10s recycled PC yarn (Black) at ₹53-56 (approximately $0.64-0.67) per kg, 20s recycled PC yarn (Grey) at ₹90-95 (approximately 1.08-1.14) per kg and 30s recycled PC yarn (Grey) at ₹128-132 (approximately $1.54-1.58) per kg. Cotton comber prices were noted at ₹113-116 (approximately $1.35-1.38) per kg. Recycled polyester fibre (PET bottle fibre) noted at ₹74-77 (approximately $0.90-0.93) per kg today.

In north India, cotton prices witnessed a steady trend after gains late last week as cotton arrival was limited, and cotton futures were positive. While cotton futures have seen mild gains in the domestic and global markets. ICE cotton saw a little gain after a steep rise last Friday. The global market had seed short covering after a declining trend during several trading sessions. Traders said that the north Indian market has received limited demand from spinning mills. Cotton arrival is decreasing day by day in the north India region.

Cotton prices in Punjab ranged from ₹5,775 to ₹5,825 (approximately $69.18-69.78) per maund of 37.2 kg, while in Haryana, prices ranged from ₹5,725 to ₹5,800 (approximately $68.58-69.48). In upper Rajasthan, cotton was priced between ₹5,600 and ₹5,800 (approximately $67.09-69.48) per maund. Bikaner line cotton sold for ₹5,800 to ₹5,900 (approximately $69.48-70.68) per maund. In lower Rajasthan, cotton was priced at ₹54,500 to ₹57,400 (approximately $652.90-688.84) per candy of 356 kg.

Disclaimer: The prices in this article are based on market sources and hence, readers are recommended to do their own research before making any decision. The publisher and their affiliates are not liable for any inaccuracies or actions taken based on this information.

ALCHEMPro News Desk (KUL)