Downtrend continues in north India cotton yarn as buyers stay away

Cotton yarn prices slipped by ₹10-15 per kg in Ludhiana as buyers did not want to purchase in unstable market. Most varieties of cotton yarn were sold at lower prices. A Ludhiana-based trader told Fibre2Fashion, “Buyers were waiting for stability in the market. They do not want to take risk in current market situation.” In Ludhiana, 30 count cotton combed yarn was sold at ₹385-390 per kg (GST inclusive), according to Fibre2Fashion’s market insight tool TexPro. 20 and 25 count combed yarn were traded at ₹375-380 per kg and ₹380-385 per kg respectively. Carded yarn of 30 count was quoted at ₹340-345 per kg.

Delhi market continued to see downtrend in prices as demand was very week. According to trade sources, buyers were reluctant for fresh buying as they want to see stability in prices. Buyers are uncertain about improvement in buying from weaving and apparel industry. In Delhi, cotton yarn prices dropped by ₹5-10 per kg for most of counts and varieties. 30 count combed yarn was traded at ₹380-385 per kg (GST extra), 40 count combed at ₹415-420 per kg, 30 count carded at ₹340-345 per kg and 40 count carded at ₹380-385 per kg.

Recycled yarn market at Panipat also noted downward trend amid weaker sentiments. A local trader Preetam Singh Sachdeva told Fibre2Fashion, “Buyers are hand-to-mouth, and they were buying just for immediate need. They were waiting for the market to bottom out. Buyers will increase their purchase when the prices start moving up.” Today, recycled yarn prices declined by ₹5-20 per kg. But the price of comber remained unchanged at 115 per kg after falling last week.

In Panipat market, 10s recycled yarn (white) was traded at ₹90-95 per kg (excluding GST), 10s recycled yarn (coloured - high quality) at ₹110-115 per kg, 10s recycled yarn (coloured - low quality) at ₹85-90 per kg and 20s recycled high quality PC yarn (coloured) at ₹130-135 per kg. 10s optical yarn was traded at ₹100-110 per kg in the market. The price of recycled polyester fibre (PET bottle fibre) was noted at ₹90 per kg. Meanwhile, manufacturers are returning to recycled cotton fibre as its prices have fallen due to lower buying.

North India cotton prices crashed further after steep fall in ICE cotton. Buyers also remained absent as they preferred to wait for the market to bottom out. According to traders, prices have registered steep fall of up to ₹700 per maund of 37.2 kg. Cotton was sold at ₹8,500-9,000 per maund in Punjab, ₹8,100-8,500 per maund in Haryana, and ₹8,800-9,000 per maund in Upper Rajasthan.

ALCHEMPro News Desk (KUL)