Cotton yarn prices steady amidst sluggish demand in south India

The Tiruppur market did not experience any significant movement in cotton yarn prices. Demand in the market was moderate, sufficient to maintain current price levels. A trader from the Tiruppur market told Fibre2Fashion, "Several factors have dampened buying from the downstream industry. The market remained bearish in terms of demand. Cotton supply is supporting the yarn market based on various factors."

In Tiruppur, knitting cotton yarn prices were noted as 30 count combed cotton yarn at ₹268-276 (approximately $3.20-3.30) per kg (excluding GST), 34 count combed cotton yarn at ₹277-284 (approximately $3.31-3.39) per kg, 40 count combed cotton yarn at ₹290-296 (approximately $3.47-3.54) per kg, 30 count carded cotton yarn at ₹242-249 (approximately $2.89-2.98) per kg, 34 count carded cotton yarn at ₹251-255 (approximately $3.00-3.05) per kg and 40 count carded cotton yarn at ₹255-262 (approximately $3.05-3.13) per kg.

The Mumbai market also saw stability in cotton yarn prices, as power looms continue to face slow fabric buying from the garment industry. Large production capacity is further weakening sentiment in the market. According to market sources, mills are focusing on the domestic market as export demand remains unsupportive, with export orders from other countries still absent. However, the cotton yarn market may find consistent support in one to two weeks.

In Mumbai, 60 carded yarn of warp and weft varieties were sold at ₹1,440-1,500 (approximately $17.21-$17.93) and ₹1,320-1,420 per 5 kg (approximately $15.78-$16.97) (excluding GST), respectively. Other prices include 60 combed warp at ₹328-336 (approximately $3.92-$4.02) per kg, 80 carded weft at ₹1,380-1,420 (approximately $16.49-$16.97) per 4.5 kg, 44/46 carded warp at ₹255-265 (approximately $3.05-$3.17) per kg, 40/41 carded warp at ₹254-264 (approximately $3.04-$3.16) per kg and 40/41 combed warp at ₹290-295 (approximately $3.47-3.53) per kg, according to trade sources.

In Gujarat, cotton prices remained stable amid sluggish demand. The market is focused on domestic factors rather than ICE cotton. Prices saw no significant movement due to limited trade during this fortnight. Sporadic arrivals of new cotton were observed in Gujarat. Traders reported that mills are cautious in their purchasing due to low demand from the weaving industry.

Cotton arrivals were recorded at 4,000-5,000 bales of 170 kg in Gujarat, with all-India arrivals estimated at 10,000-12,000 bales. The benchmark Shankar-6 cotton was quoted between ₹59,500-59,800 (approximately $711.20-$714.78) per candy of 356 kg, while southern mills were looking to buy cotton at ₹60,000-60,500 (approximately $717.17-$723.15) per candy. New cotton was traded at ₹58,000-58,500 (approximately $693.27-$699.24) per candy, with a maximum moisture condition of 10 per cent, though actual moisture levels were significantly higher than this condition.

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)