Cotton yarn prices steady in north India, sentiments weak

The Delhi market experienced stability in cotton yarn prices. Buyers were purchasing cotton yarn for their immediate needs. According to trade sources, demand from the downstream industry is unlikely to improve in the next couple of weeks as both export and domestic demand may remain limited. However, spinning mills were attempting to maintain cotton yarn prices at current levels.

Today, in Delhi, 30 count combed knitting yarn traded at ₹260-265 (approximately $3.11-3.17) per kg (excluding GST), 40 count combed at ₹280-288 (approximately $3.35-3.45) per kg, 30 count carded at ₹235-240 (approximately $2.81-2.87) per kg, and 40 count carded at ₹265-268 (approximately $3.17-3.21) per kg, as per market sources.

The Ludhiana market also saw no improvement in buying. Buyers remained inactive, purchasing cotton yarn only for immediate needs. They do not anticipate a price rise in cotton yarn. A trader from the Ludhiana market told Fibre2Fashion, "Spinning mills were not inclined to decrease yarn prices as they expect support in cotton prices after a decrease in arrivals. However, cotton prices may not rise as MNCs have sufficient stocks for sale in the remaining months of the current season, which will end on September 30, 2024."

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 saw a reduction of ₹2-3 per kg in cotton comber prices. Nevertheless, recycled yarn prices remained steady. Trade sources noted that comber prices dropped as cotton prices fell recently. Slow retail demand for finished home textile products discouraged the entire value chain.

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 ₹111-114 (approximately $1.35-1.38) per kg and recycled polyester fibre (PET bottle fibre) at ₹74-77 (approximately $0.90-0.93) per kg today.

In north India, cotton prices decreased by ₹50-60 per maund of 37.2 kg as the natural fibre trended downwards in domestic futures. The USDA has projected higher global production for 2024-25. There was no positive signal for cotton and its value-added products. The muted buying by spinning mills contributed to the ease in cotton prices. Lower arrivals also failed to support cotton prices.

Cotton prices in Punjab ranged from ₹5,725 to ₹5,750 (approximately $68.55-68.85) per maund of 37.2 kg, while in Haryana, prices ranged from ₹5,675 to ₹5,750 (approximately $67.95-68.85). In upper Rajasthan, cotton was priced between ₹5,550 and ₹5,750 (approximately $66.45-68.85) per maund. Bikaner line cotton sold for ₹5,750 to ₹5,850 (approximately $68.85-70.05) per maund. In lower Rajasthan, cotton was priced at ₹54,200 to ₹57,200 (approximately $648.97-684.89) 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)