Indian polyester, viscose yarn facing liquidity crunch, prices stable

A trader from the Ludhiana market told Fibre2Fashion, “The local market has been facing a payment crisis for quite a long time. But the liquidity position further tightened as the fiscal is ending soon. Buyers were cautious about placing new purchase orders so that they can manage their payment liability.Polyester-cotton yarn steadied after a fall in the last week. Polyester spun yarn was also stable. In Ludhiana, the 30 count PC combed yarn (48/52) was traded at ₹208-218 per kg (GST inclusive), 30 count PC carded yarn (65/35) was sold at ₹194-204 per kg, 30-count polyester spun was priced at ₹150-158 per kg (GST inclusive) and recycled polyester fibre (PET bottle fibre) was quoted at ₹73-75 per kg, according to Fibre2Fashion’s market insight tool TexPro.

The Surat market noted a steady trend in polyester spun yarn. Viscose yarn was also traded at its previous levels. Trade sources said that the payment law also cautioned buyers as they might need to make payment within this fiscal. Price of 30 viscose compact yarn (local) was ₹197-200 per kg (GST Extra). However, the 30 count polyester spun yarn was traded steady at ₹137-138 per kg (GST extra) and 40 count poly spun yarn at ₹149-153 per kg.

In the Mumbai market also, viscose yarn prices remained stable amid payment problems. A trader from Mumbai told Fibre2Fashion, “Traders were worried about the new payment law as the government did not issue any notification. Buyers were optimistic and cautious regarding payment. The Payment conditions further worsened.” Imported 30 count viscose vertex yarn was priced at ₹181-186 per kg. Local 30 count ring spun viscose yarn was quoted at ₹190-193 per kg, as per TexPro.

North India cotton prices showed a positive tone as ICE cotton was traded higher. Traders said that mills were reluctant to engage in fresh buying. But MNCs were buying cotton to cover their selling positions. Lower arrival also motivated buying as the arrival season is set to end. Various markets in north India saw gains of ₹20-25 per maund. But lower quality dragged down prices in the Shri Ganganagar line of Rajasthan. Today’s arrival was noted at 15,000 bales of 170 kg. State-wise arrivals were noted as Punjab 1,500 bales, Haryana 4,500 bales, upper Rajasthan 5,000, and lower Rajasthan 4,00 bales. Cotton was priced in Punjab at ₹5,550-5,600 and in Haryana at ₹5,500-5,600, upper Rajasthan at ₹5,375-5,625 per maund of 37.2 kg. Bikaner line cotton was sold at ₹5,600-5,700 per maund. In lower Rajasthan, cotton was priced at ₹53,000-55,000 per candy of 356 kg.

ALCHEMPro News Desk (KUL)