Cotton yarn prices down in Delhi, sentiments weak in north India

Traders said the market was under pressure due to a lack of buying. Although mills were trying to hold prices, stockists and traders were selling their stock at a loss. The Panipat market also noted weak demand from downstream industry and retailers. However, recycled yarn and its raw material prices remained stable.

In the Delhi market, cotton yarn prices saw a downward trend, dropping by ₹2-3 per kg. According to trade sources, the market was under pressure due to slow demand, and buyers were uncertain about demand from the downstream industry. The market was caught between slow retail demand and falling prices of natural fibre.

In this market today, 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, as per trade sources.

However, cotton yarn was traded steadily in the Ludhiana market after easing earlier this week. A trader from the Ludhiana market told Fibre2Fashion, "Buyers did not come back despite lower cotton yarn prices. Mills did not cut yarn prices despite easing cotton prices, but stockists and traders were forced to clear their stocks at a loss."

In Ludhiana, 30 count cotton combed yarn was sold at ₹263-273 (approximately $3.18-3.30) per kg (inclusive of GST); 20 and 25 count combed yarn were traded at ₹253-263 (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, present demand of recycled yarn was very slow. Consumer industry did not see retail buying of finished goods very encouraging. 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) was noted at ₹74-77 (approximately $0.90-0.93) per kg today.

In North India, cotton prices continued to show a downward trend as buyers remained silent. They were unsure about price stability, as ICE cotton continuously lost value. Cotton prices dropped by ₹25 per maund of 37.2 kg. Traders said there was a lack of confidence despite lower arrivals. Today's cotton arrivals decreased to 1,450 bales of 170 kg in north India. State-wise arrivals were as follows: 50 bales in Punjab, 700 bales in Haryana, 500 bales in upper Rajasthan, and 400 bales in lower Rajasthan.

Cotton prices in Punjab ranged from ₹5,725 to ₹5,750 (approximately $68.60-68.89) per maund of 37.2 kg, while in Haryana, prices ranged from ₹5,650 to ₹5,750 (approximately $67.70-68.89). In upper Rajasthan, cotton was priced between ₹5,550 and ₹5,750 (approximately $66.50-68.89) per maund. Bikaner line cotton was sold for ₹5,775 to ₹5,850 (approximately $69.19-70.09) per maund. In Lower Rajasthan, cotton was priced at ₹54,500 to ₹57,400 (approximately $653-687.75) 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)