Cotton yarn prices steady in south India, demand weak

The Mumbai market witnessed steadiness in cotton yarn prices. Demand was also slow as buyers were waiting for the end of the election fever in Mumbai. A trader from Mumbai informed Fibre2Fashion, "The metro city will see voting on May 20. Cotton yarn trade is likely to improve once voting ends. Presently, buyers as well as sellers are facing a cash crunch amid the tight security arrangements by the local administration."

In Mumbai, 60 carded yarn of warp and weft varieties were sold at ₹1,410-1,460 (approximately $16.89-$17.48) and ₹1,290-1,375 per 5 kg (approximately $15.45-$16.47) (excluding GST), respectively. Other prices include 60 combed warp at ₹330-334 (approximately $3.95-$4.00) per kg, 80 carded weft at ₹1,360-1,400 (approximately $16.29-$16.76) per 4.5 kg, 44/46-carded warp at ₹257-262 (approximately $3.08-$3.14) per kg, 40/41 carded warp at ₹252-260 (approximately $3.02-$3.11) per kg, 40/41 combed warp at ₹290-295 (approximately $3.47-$3.53) per kg, and 30/32 carded warp at ₹245-247 (approximately $2.93-$2.96) per kg, according to trade sources.

The Tiruppur market also noted stability in cotton yarn prices. Last week, carded yarn prices lowered amid slow demand. Trade sources said that although there was no interest from buyers as they did not expect improvement in fabric buying. Weak sentiment continued in the major textile centre of southern India.

In Tiruppur, knitting cotton yarn prices were noted on Thursday as: 30 count combed cotton yarn at ₹268-273 (approximately $3.21-3.27) per kg (excluding GST), 34 count combed cotton yarn at ₹277-282 (approximately $3.32-3.38) per kg, 40 count combed cotton yarn at ₹290-295 (approximately $3.47-3.53) per kg, 30 count carded cotton yarn at ₹241-245 (approximately $2.89-2.93) per kg, 34 count carded cotton yarn at ₹247-251 (approximately $2.96-3.01) per kg and 40 count carded cotton yarn at ₹253-258 (approximately $3.03-3.09) per kg.

In Gujarat, cotton prices were also steady despite mild gains in ICE cotton. Traders said that spinning mills were cautious for fresh buying as they are getting encouraging demand for yarn. Cotton arrival also reduced due to weather disturbance in the western state. Cotton arrivals were recorded at 10,000-11,000 bales of 170 kg in Gujarat, with all-India arrivals estimated at 38,000-40,000 bales. In Gujarat, the benchmark Shankar-6 cotton was quoted between ₹57,000-57,500 (approximately $682.60-$688.59) per candy of 356 kg, while southern mills were looking to buy cotton at ₹57,500-58,000 (approximately $688.59-$694.58) per candy.

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)